Industrial Bank of Commerce v. Springer

The question' involved on this appeal is the interpretation of section 47-a of the Civil Practice Act, effective on September 1,1938, and providing that an action upon a bond, the payment of which is secured by a mortgage upon real property, must be commenced within six years after the cause of action has accrued. The contention of the defendant which was sustained below was that an action on the bond was barred on September 1,1944, or six years from September 1,1938, when section 47-a became effective. The action herein was not commenced until January 11, 1946. The appellant seeks to avoid…