Robinson v. . Williams
New York Court of Appeals
Appeal from the Superior Court of the city of Buffalo. Action by the receiver of the Hollister Bank, against Williams the receiver of the Reciprocity Bank, and other defendants, for the foreclosure of a mortgage. Prior to September, 1857, both banks were doing business in the city of Buffalo.
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Appeal from the Superior Court of the city of Buffalo. Action by the receiver of the Hollister Bank, against Williams the receiver of the Reciprocity Bank, and other defendants, for the foreclosure of a mortgage. Prior to September, 1857, both banks were doing business in the city of Buffalo. Upon the trial these facts were proved: On the 24th of October, 1854, the defendants Gibson and wife executed and delivered a mortgage to the Hollister Bank, which recited that in consideration of the sum of $1 to them in hand paid, and for the purposes thereinafter declared and stated, they granted and…
1Opinion of the CourtDavies, J.
There can be no doubt that, as between the original parties to this mortgage, the validity of it, as a pledge of the mortgaged premises to secure the amount of these two drafts, could not be questioned. It was clearly the intent of the parties that the lands described should stand as security for all advances and discounts made by the Hollister Bank to Gibson. If, therefore, there were no legal mortgage, there was, undeniably, an equitable one, which a court of equity would enforce against the original parties to it, and all others not in the condition of Iona fide purchasers or subsequent…
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- In re HoweNew York Court of Chancery · 1828
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