Thorp v. Croto
Supreme Court of Vermont
Appeal in Chancery. Heard on the pleadings and master’s report at the December Term, 1905, Eamoille County, Munson, Chancellor. Decree for the petitioner. The defendant appealed.
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Appeal in Chancery. Heard on the pleadings and master’s report at the December Term, 1905, Eamoille County, Munson, Chancellor. Decree for the petitioner. The defendant appealed. The petition is to foreclose the defendant’s equity of redemption in certain real estate upon which the petitioner holds a mortgage securing six notes of $200 each, all dated November 16, 1901, and payable in six, seven, eight, nine, ten, and eleven years from date, respectively, with interest annually. In. the month of August, 1903, the barn on the mortgaged premises was destroyed by fire, and the insurance,…
1Opinion of the Court
Miles, J.,
for the majority of the Court.
The question raised in this case is, must the mortgagee receiving money on a fire insurance policy procured by the mortgagor for his benefit, hold that money until some part of the mortgage debt is due and thereafter apply it as fast as it falls due and no faster \ 1 I
At the time the money was received by the mortgagee no part of the principal nor interest was then due upon the mortgage indebtedness, which then consisted of six promissory notes of two* hundred dollars each, bearing date November 16, 1901, and made payable six, seven, eight, nine, ten…
2Cases cited2 opinions
- Prouty v. EatonNew York Supreme Court · 1863
- Lewis v. JewettSupreme Court of Vermont · 1879
3Cited by19 opinions
- Haskin v. GreeneOregon Supreme Court · 1955
- Camden Fire Ins. v. SutherlandTexas Commission of Appeals · 1926
- Crone v. JohnsonSupreme Court of Arkansas · 1966
- Malvaney v. YagerMontana Supreme Court · 1936
- Le Doux v. DettmeringAppellate Court of Illinois · 1942
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