Badger v. Platts
Supreme Court of New Hampshire
(1) Petition, for the determination of the amount due on two real estate mortgages, and (2) Writ oe Entry to foreclose the mortgages. Pacts agreed. June 24,1892, the mortgaged premises were conveyed to Melvin Badger, who assumed the payment of a note for $1,500 held by Gilman Clough, secured by a mortgage of the premises, and a note for $1,800 held by Freeman N Thurber, secured by a second mortgage of the premises.
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(1) Petition, for the determination of the amount due on two real estate mortgages, and (2) Writ oe Entry to foreclose the mortgages. Pacts agreed. June 24,1892, the mortgaged premises were conveyed to Melvin Badger, who assumed the payment of a note for $1,500 held by Gilman Clough, secured by a mortgage of the premises, and a note for $1,800 held by Freeman N Thurber, secured by a second mortgage of the premises. The buildings were insured for $2,000 in the North British & Mercantile Insurance Co., payable in case of loss to Thurber, second mortgagee, as his interest might appear, subject…
1Opinion of the CourtClark, J.
Platts is the holder of the two notes assumed by Badger and the mortgages securing them. It is agreed that the amount due upon the §1,800 note was §506.15 on January 23, 1893. The only question, therefore, is whether the payment of the amount due upon the §1,500 note to Clough as mortgagee, by Champlin as agent of the North British & Mercantile Insurance Co., and the assignment by Clough to Champlin of the mortgage securing the note, was a payment of the mortgage debt for the benefit of the mortgagor, or a purchase by the company which subrogated them to the rights of the mortgagee. There is…
2Cases cited2 opinions
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