Pancoast v. American Heating & Power Co.
New York Supreme Court
On demurrer on behalf of the American Heating and Power Company. The complaint briefly stated was as follows : That in October, 1881, this defendant mortgaged its property in trust to the Farmers’ Loan and Trust Company, and that the mortgage is recorded and that supplementary mortgages have been given, and that the plaintiffs are partners and that they are judgment creditors of this defendant; that an execution has been issued, and is now outstanding and in the hands of the…
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On demurrer on behalf of the American Heating and Power Company. The complaint briefly stated was as follows : That in October, 1881, this defendant mortgaged its property in trust to the Farmers’ Loan and Trust Company, and that the mortgage is recorded and that supplementary mortgages have been given, and that the plaintiffs are partners and that they are judgment creditors of this defendant; that an execution has been issued, and is now outstanding and in the hands of the sheriff; that none of the mortgages have been filed as chattel mortgages ; that a large part of the properly consists…
1Opinion of the CourtLarremore, J.
— It appears by the complaint that on May 12, 1883, when plaintiffs recovered their judgment, the property in dispute was in the possession of a receiver appointed at the instance of the mortgagee. As between the parties to it, the mortgage was not invalid (Jones agt. Graham, 77 N. Y. 628).
The only relief asked for against the demurrant is that it may be enjoined from doing what has already been done under the sanction of the court.
The complaint fails to show a valid cause of action against the company, and the demurrer should be sustained, with leave to plaintiffs to amend on payment of…
2Cited by1 opinion
- Volckers v. SturkeAppellate Terms of the Supreme Court of New York · 1896