Bank of Ogdensburgh v. Arnold
New York Court of Chancery
In May, 1831, Jacob Arnold and J. A. Ford borrowed of the complainants $10,000, and to secure the payment thereof gave a bond and mortgage; in which mortgage Maria S., the wife of Jacob Arnold, also joined.
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In May, 1831, Jacob Arnold and J. A. Ford borrowed of the complainants $10,000, and to secure the payment thereof gave a bond and mortgage; in which mortgage Maria S., the wife of Jacob Arnold, also joined. The interest on the bond and mortgage was to be paid semi-annually; but no part of the principal was to become due until May, 1836; and the last instalment was not payable until 1841. J. Arnold died insolvent, in March, 1834, leaving his wife surviving, and two infant children who were his only heirs at law. Previous to his death, J. Arnold gave another mortgage upon the same premises; the…
1Opinion of the Court
The Chancellor.
Previous to the revised statutes, this court, up on a bill of foreclusure, could direct the whole mortgaged premises to be sold, or a part thereof only, as should be most conducive to the ends of justice, in reference to the equitable rights of all parties; although a part only of the mortgage money had become due. But the power of the court in this respect has been somewhat restricted by the revised statutes. The 163d section of the title of the revised statutes relative to the court of chancery, (2 R. S. 193,) directs a reference to a mas*41ter to ascertain and report the…
2Cited by27 opinions
- Teal v. WalkerSupreme Court of the United States · 1884
- Davidson v. ReamNew York Supreme Court · 1916
- Hyman v. KellyNevada Supreme Court · 1865
- Syracuse City Bank v. TallmanNew York Supreme Court · 1857
- Huston v. SeeleySupreme Court of Iowa · 1869
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