Livingston v. New England Mortgage Security Co.
Supreme Court of Arkansas
Appeal from Faulkner Chancery Court; Jeremiah G. Wallace, Chancellor; statement by the court. On January 31, 1884, Richard C. Ludwick and wife, Mary J., executed a mortgage on the land in controversy to secure the payment of a debt to appellee, New England Mortgage Security Company.
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Appeal from Faulkner Chancery Court; Jeremiah G. Wallace, Chancellor; statement by the court. On January 31, 1884, Richard C. Ludwick and wife, Mary J., executed a mortgage on the land in controversy to secure the payment of a debt to appellee, New England Mortgage Security Company. The mortgage was under seal, and contained an express promise to pay the debt on January 31, 1889. A suit in equity was commenced by appellee on March 24, 1897, to foreclose the mortgage, and on March 26, 1900, while the suit was still pending, the court made an order dropping it from the docket “with leave to…
1Opinion of the Court
McCulloch, J.,
(after stating the facts.) The mortgage was executed under seal, and contained an express covenant to pay the debt. Therefore the period of limitation within which foreclosure suit could be commenced was, under the statute then in force, ten years from the accrual of the right of action. New England Mortgage Security Co. v. Reding, 65 Ark. 489; American Freehold Land Mortgage Co. v. McManus, 68 Ark. 263.
The suit was originally commenced within the statutory period. . But, even if it had not been brought within the time required, in order to take advantage of the statute of…
2Cases cited12 opinions
- State v. HillSupreme Court of Arkansas · 1887
- Boyd v. RoaneSupreme Court of Arkansas · 1887
- Porter v. DooleySupreme Court of Arkansas · 1898
- American Freehold Land Mortgage Co. v. McManusSupreme Court of Arkansas · 1900
- Dickinson v. DuckworthSupreme Court of Arkansas · 1905
7 more not listed; retrieve them via the Exa API.
3Cited by17 opinions
- National Surety Corporation v. Inland Properties, Inc.District Court, E.D. Arkansas · 1968
- Taylor v. TaylorSupreme Court of Arkansas · 1922
- Mann v. WhitelyNew Mexico Supreme Court · 1931
- Taylor v. KingSupreme Court of Arkansas · 1918
- Fourche River Lumber Co. v. WalkerSupreme Court of Arkansas · 1910
12 more not listed; retrieve them via the Exa API.