Meyer v. Roosevelt
New York Supreme Court
In 1854, Samuel Bowne delivered his bond to defendant, conditioned to pay $8,000, with interest, in August, 1857. The bond was given to secure a loan of $8,000 to Bowne, for which the defendant gave his check upon the Chemical Bank, payable in gold, at the option of Bowne. As a further security, Bowne and his wife executed a mortgage on certain land in Richmond county.
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In 1854, Samuel Bowne delivered his bond to defendant, conditioned to pay $8,000, with interest, in August, 1857. The bond was given to secure a loan of $8,000 to Bowne, for which the defendant gave his check upon the Chemical Bank, payable in gold, at the option of Bowne. As a further security, Bowne and his wife executed a mortgage on certain land in Richmond county. The mortgaged premises were subsequently conveyed to plaintiff, subject to said mortgage, the payment of which plaintiff assumed, the amount received having been deducted from the purchase money. In June, 1862, plaintiff,…
1Opinion of the Court
By the court, Ingraham, P. Justice.
The defendant was the holder of a bond and mortgage executed in 1854, to secure the payment of money loaned at that time. The bond and mortgage were made payable prior to 1862, “ in lawful money of the United States.”
The plaintiff being the owner of the equity of redemption in the premises mortgaged, on the 11th June, 1862, tendered to the defendant the amount due for principal and interest, in treasury notes of the United States issued under the act of 25th February, 1862, and demanded a satisfaction of the mortgage. This the defendant refused to accept,…
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