New York Life Insurance & Trust Co. v. Covert
New York Supreme Court
THIS was an appeal from a judgment entered at a special term. The action was for the foreclosure of a mortgage, given May 1, 1829, by William Cornell and wife to Daniel A. Amerman, and assigned by Amerman' to John De Mott, May 7, 1831, and by the latter to the plaintiffs in August, 1832. It was assigned to the plaintiffs as collateral security to a bond for $10,000, given by De Mott to them.
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THIS was an appeal from a judgment entered at a special term. The action was for the foreclosure of a mortgage, given May 1, 1829, by William Cornell and wife to Daniel A. Amerman, and assigned by Amerman' to John De Mott, May 7, 1831, and by the latter to the plaintiffs in August, 1832. It was assigned to the plaintiffs as collateral security to a bond for $10,000, given by De Mott to them. By sundry conveyances the mortgaged premises were now owned by the defendants, and they only were made* parties to the suit. The mortgage, by its terms, was due and payable April 1, 1831. The last payment…
1Opinion of the Court
By the Court, T. R. Strong, J.
The revised statutes, (vol. 2, page 301, sec. 48,) provide) that “ after the expiration of twenty years from the time a tight of action shall accrue upon any sealed instrument, for the payment of money, such right shall be presumed to have been extinguished by payment; but such presumption may be repelled by proof of payment of some part, or by proof of a written acknowledgment of such right of action within that period.” This provision is applicable1 to the present case ; as the right of action on the mortgage had accrued, and existed, when the code, in…
2Cases cited5 opinions
- Winchell v. . HicksNew York Court of Appeals · 1859
- Heyer v. PruynNew York Court of Chancery · 1839
- Jackson ex dem. People v. WoodNew York Supreme Court · 1815
- Henderson v. HendersonNew York Supreme Court · 1846
- Pattison v. TaylorNew York Supreme Court · 1850
3Cited by4 opinions
- Johnson v. JohnsonSupreme Court of Missouri · 1884
- Berryman v. BeckerMissouri Court of Appeals · 1913
- Lake Waterloo Corp. v. KestenbaumSupreme Court of New Jersey · 1952
- Jarvis v. AlbroSupreme Judicial Court of Maine · 1877