Peabody v. Fenton
New York Court of Chancery
This case came before the chancellor upon appeal, by W. and R. Kelly and Downer and Rogers, four of the defendants, from a decree of the vice chancellor of the eighth circuit. In November, 1837, J. J. McPherson mortgaged to D. McPherson certain lands in Genesee county, to secure the payment of $8000; for which he also gave his bond, payable in eight yearly payments, commencing on the first of April then next, with annual interest.
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This case came before the chancellor upon appeal, by W. and R. Kelly and Downer and Rogers, four of the defendants, from a decree of the vice chancellor of the eighth circuit. In November, 1837, J. J. McPherson mortgaged to D. McPherson certain lands in Genesee county, to secure the payment of $8000; for which he also gave his bond, payable in eight yearly payments, commencing on the first of April then next, with annual interest. The first payment, with interest on the whole bond and mortgage, was paid in April, 1838; and in May of the same year the mortgagee assigned the bond and mortgage,…
1Opinion of the Court
The Chancellor.
There can be no doubt, from the evi dence in this case, that Fenton obtained the assignment of the bond and mortgage, from the complainant, by false pretences; amounting not only to'a gross fraud but also to a felony, under the provisions of the revised statutes. And the complainant did no act to ratify that transaction after he was aware of the fraud. It also appears from the testimony that -Downer & Rogers, even if they had no reason to suspect some unfairness in the transaction, so a§ to make it their duty to inquire of the assignor whether Wyckoff was the real owner of the…
2Cases cited1 opinion
- Andrew v. DieterichNew York Supreme Court · 1835
3Cited by12 opinions
- Fassett v. . SmithNew York Court of Appeals · 1861
- Ten Eyck v. . WitbeckNew York Court of Appeals · 1892
- The People v. . LyonNew York Court of Appeals · 1885
- Cochran v. StewartSupreme Court of Minnesota · 1875
- Wenz v. PasteneMassachusetts Supreme Judicial Court · 1911
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