Old Colony Trust Co. v. Great White Spirit Co.
Massachusetts Supreme Judicial Court
Bill in EQUITY brought by the Old Colony Trust Company as trustee representing the holders of the bonds of the Great White Spirit Company, the first named defendant, to foreclose the mortgage and supplemental mortgages securing said bonds, filed June 22, 1899. The’following facts appeared by the bill and answers and were not controverted: The Great White Spirit Company is a corporation existing under the laws of New Jersey having authority to mortgage its property.
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Bill in EQUITY brought by the Old Colony Trust Company as trustee representing the holders of the bonds of the Great White Spirit Company, the first named defendant, to foreclose the mortgage and supplemental mortgages securing said bonds, filed June 22, 1899. The’following facts appeared by the bill and answers and were not controverted: The Great White Spirit Company is a corporation existing under the laws of New Jersey having authority to mortgage its property. The principal mortgage sought to be foreclosed was dated January 1, 1895, and conveyed to the plaintiff, as trustee, for the…
1Opinion of the CourtKnowlton, J.
The only question in this case is whether there is jurisdiction in equity to order a foreclosure of the mortgage by a sale, according to the terms of the decree. In Hallowell v. Ames, 165 Mass. 123, the general rule was stated that in the absence of special facts calling for equitable aid, the court has no jurisdiction in equity to decree the foreclosure and sale of real estate conveyed by a mortgage which does not contain a power of sale. In ordinary cases the elaborate statutory provisions for the foreclosure and redemption of mortgages, contained in the Pub. Sts. c. 181, fix the rights of…
2Cases cited3 opinions
- First National Fire Insurance v. SalisburyMassachusetts Supreme Judicial Court · 1881
- Hallowell v. AmesMassachusetts Supreme Judicial Court · 1896
- Chadwick v. Old Colony RailroadMassachusetts Supreme Judicial Court · 1898
3Cited by12 opinions
- Carleton & Hovey Co. v. BurnsMassachusetts Supreme Judicial Court · 1934
- Hoffman v. Charlestown Five Cents Savings BankMassachusetts Supreme Judicial Court · 1918
- City of Boston v. SantosuossoMassachusetts Supreme Judicial Court · 1941
- John Hancock Mutual Life Insurance v. LesterMassachusetts Supreme Judicial Court · 1920
- State Realty Co. of Boston, Inc. v. MacNeil Bros. Co.Massachusetts Supreme Judicial Court · 1956
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