Hurd v. Callahan
New York Surrogate's Court
Application by a creditor, to mortgage, sell or lease decedent’s real property to pay his debts. On November 17, 1871, John Finagan executed a bond and mortgage to decedent, to secure the payment of $783.50, in three years, with interest. On April 6, 1873, Callahan assigned the bond and mortgage to James Blackwell, the assignment containing a clause as follows : “the party of the first part hereby guarantees the payment of the said bond and mortgage.”
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Application by a creditor, to mortgage, sell or lease decedent’s real property to pay his debts. On November 17, 1871, John Finagan executed a bond and mortgage to decedent, to secure the payment of $783.50, in three years, with interest. On April 6, 1873, Callahan assigned the bond and mortgage to James Blackwell, the assignment containing a clause as follows : “the party of the first part hereby guarantees the payment of the said bond and mortgage.” In March., 1873, Blackwell assigned the same to William 0. Hurd. Callahan died March. 33, 1874, leaving a will, of which. Ellen Callahan, his…
1Opinion of the Court
The Surrogate.
The objection to the proof offered as to the depreciation in value of the mortgaged premises was well taken. The case of People v. Jansen has been overruled, and is no longer to be regarded as an authority (5 Amer. Dec., 275, and note, 279). In no case is a surety discharged by mere laches of the creditor, unless after a request to prosecute the principal (Looney v. Hughes, 26 N. Y., 514). The mere neglect of the holder of the bond and mortgage to proceed against the mortgagor, does not discharge the guarantor, though the value of the land become so depreciated as to be…
2Cases cited7 opinions
- Brown v. . CurtissNew York Court of Appeals · 1849
- Hamilton v. . Van RensselaerNew York Court of Appeals · 1871
- Looney v. . HughesNew York Court of Appeals · 1863
- Ferguson v. BroomeNew York Surrogate's Court · 1849
- Tuton v. ThayerNew York Supreme Court · 1873
2 more not listed; retrieve them via the Exa API.
3Cited by1 opinion
- In re the Estate of StowellNew York Surrogate's Court · 1896