C. B. Keogh Manufacturing Co. v. Whiston
New York Supreme Court
Mortgage foreclosure by the C. B. Keogh Manufacturing Company against John Whiston and others. Plaintiff moves that a receiver of the mortgaged property be appointed.
1Opinion of the CourtIngraham, J.
Although a court of equity will not enforce a provision in a mortgage which provides for the appointment of a receiver when, under all the circumstances, it is inequitable to take the property out of the owner’s possession pending an action to foreclose the mortgage, the fact that the parties have agreed that, in case of a default, a receiver shall be appointed, should liave weight when an application for a receiver is made. When such a provision is contained in a mortgage, and it further appears that the mortgage sought to be foreclosed is a second mortgage, that the parties in possession of…
2Cited by4 opinions
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