Nelson v. . Loder
New York Court of Appeals
Appeal from judgment of the General Term of the Supreme Court in the second judicial department, entered upon an order made December 9, 1889, which modified, and affirmed as modified, a judgment in favor of plaintiff entered upon a decision of the court on trial at Special Term. This was an action to compel the assignment of a bond and mortgage and to restrain defendant from prosecuting an action to foreclose the same.
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Appeal from judgment of the General Term of the Supreme Court in the second judicial department, entered upon an order made December 9, 1889, which modified, and affirmed as modified, a judgment in favor of plaintiff entered upon a decision of the court on trial at Special Term. This was an action to compel the assignment of a bond and mortgage and to restrain defendant from prosecuting an action to foreclose the same. April 3, 1876, Josiah G. Clark, being indebted to the Manhattan Life Insurance Company in the sum of $18,000, executed and delivered a bond to said corporation whereby he bound…
1Opinion of the Court
Follett, Ch. J.
Whether the defendant is entitled to interest on the debt secured by her bond and mortgage to the date when she shall be paid by the plaintiff, or only to October 18, 1880, the date of the tender, is the only question involved in this appeal. In case the whole amount secured by a mortgage is due, the tender of the sum unpaid by the owner of the mortgaged premises extinguishes the lien of the mortgage, though the tender is not kept good, but it does not discharge the promise or covenant to pay the debt for which the debtor remains liable. (Kortright v. Cady, 21 N. Y. 343; Werner…
2Cases cited3 opinions
- Kortright v. . CadyNew York Court of Appeals · 1860
- Tuthill v. . MorrisNew York Court of Appeals · 1880
- Stow v. RussellIllinois Supreme Court · 1864
3Cited by20 opinions
- Cæsar v. CapellU.S. Circuit Court for the District of Western Tennessee · 1897
- Nyctl 1999-1 Trust v. 573 Jackson Avenue Realty Corp.New York Court of Appeals · 2009
- Matter of Village Rathskeller, Inc.United States Bankruptcy Court, S.D. New York · 1992
- Schnitzer v. Fruehauf Trailer Co.Appellate Division of the Supreme Court of the State of New York · 1954
- G. B. Seely's Son, Inc. v. Fulton-Edison, Inc.Appellate Division of the Supreme Court of the State of New York · 1976
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