Hannon v. Cobb
Appellate Division of the Supreme Court of the State of New York
Submission of a controversy upon an agreed statement of. facts, pursuant to section 1279 of the Code of Civil Procedure.
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Submission of a controversy upon an agreed statement of. facts, pursuant to section 1279 of the Code of Civil Procedure. The Central City Building and Loan Association was incorporated on the 27th day of March, 1891, in pursuance of the provisions of chapter 122 of the Laws of 1851, and the laws amendatory thereof, for the purpose of affording its members a safe and profitable investment of their savings; to facilitate the purchase and improvement of real estate; to accumulate a fund and to loan such fund, or any portion thereof; and, until the 8th day of April, 1898, it was engaged in…
1Opinion of the Court
Adams, P. J.:
The method adopted by the plaintiff to determine the amount due upon his mortgage is founded upon the theory that the association, having voluntarily transferred all of its property through the medium of a general assignment, has by that act deprived itself of the power' to mature the plaintiff’s stock at any time in the future, and that in consequence thereof it has violated its Contract with the plaintiff and become liable to him for such damages as he has suffered by reason of its breach. In this view of the situation it is claimed that the true rule of damages would be…
2Cases cited2 opinions
- O'Malley v. People's Building, Loan & Savings Ass'nNew York Supreme Court · 1895
- Choisser v. YoungAppellate Court of Illinois · 1897
3Cited by4 opinions
- Breed v. RuoffAppellate Division of the Supreme Court of the State of New York · 1900
- People v. New York Building-Loan Banking Co.Appellate Division of the Supreme Court of the State of New York · 1905
- People v. New York Building Loan Banking Co.New York Supreme Court · 1904
- Preston v. BrinleyAppellate Division of the Supreme Court of the State of New York · 1905