Bennett v. Bates

Rumset, J.:

The action is brought to foreclose a mortgage for $15,000 given by the defendant, Fanny IL Simons, to one Allen, and afterward assigned to the plaintiff.

It appears from the case that Allen was the owner of the premises covered by the mortgage, and that Mrs. Simons held two mortgages given by Allen amounting to the sum of $11,196.67. That an arrangement was made between them by which she was to buy the premises of Allen for $15,000, and pay him by satisfying her mortgages and giving him her bond and mortgage for the remainder; that when the contract was executed, the two prior…