Neuman v. New York Mutual Savings & Loan Ass'n
Appellate Division of the Supreme Court of the State of New York
Appeal by the plaintiff,, Isidore Neuman, from a judgment of the Supreme Court in favor of the defendant, entered in the office of the clerk of the county , of Oneida on the' 11th day of October, 1895, upon the decision of the court, rendered after a trial at the Oneida Special Term dismissing his complaint upon the merits.
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Appeal by the plaintiff,, Isidore Neuman, from a judgment of the Supreme Court in favor of the defendant, entered in the office of the clerk of the county , of Oneida on the' 11th day of October, 1895, upon the decision of the court, rendered after a trial at the Oneida Special Term dismissing his complaint upon the merits. This action was begun July 23, 1894, to redeem a mortgage executed by the plaintiff, and Rachel, Ms wife, May 1, 1891, to the defendant, to secure the payment of $2,600. In June, 1889, the defendant was incorporated, pursuant to chapter 122 of the Laws of 1851, as amended…
1Opinion of the Court
Follett, J.:
The avowed purposes of this. corporation, as disclosed by its articles, require it, its trustees and authorized agents, to ' exercise the utmost good faith towards all of its borrowing members, and, in case representations are made respecting existing conditions or the results of past experience which are untrue and are relied on by the borrower, he becomes entitled to rescind his contract upon paying to-the corporation such a sum as is just and equitable.
By the 179th section of the Banking Act (Chap. 37, General Laws} it is provided : “ A borrower may repay a loan and all arrears…
2Cited by1 opinion
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