West v. . Crary
New York Court of Appeals
Appeal from judgment of the General Term of the Supreme Court in the first judicial department, affirming a judgment in favor of plaintiff, entered upon the report of a referee. The action was brought by plaintiff’s testatrix, Mary Hegeman, to recover the value of one-quarter of a schooner called the “ G. L:,” and the earnings of said one-quarter from Januuary, 1858, to January, 1863. First.
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Appeal from judgment of the General Term of the Supreme Court in the first judicial department, affirming a judgment in favor of plaintiff, entered upon the report of a referee. The action was brought by plaintiff’s testatrix, Mary Hegeman, to recover the value of one-quarter of a schooner called the “ G. L:,” and the earnings of said one-quarter from Januuary, 1858, to January, 1863. First. In the winter of 1858, the defendant loaned to West & Walker (a firm composed of Francis West and Alvin Walker) the sum of $1,811. Second. About the time the loan was made, and on the 16th day of…
1Opinion of the Court
Church, Ch. J.
The transfer of the interest of Mary Hegeman in the schooner, for the purpose of securing the loan by defendant to West & Walker, more nearly resembled in legal effect a pledge than a mortgage. (4 Den., 227.) Although the transfer was absolute, it was competent to prove it was intended as a security. (2 Comst., 443.) The referee has found that the transfer was intended to operate as a mortgage. If this finding is to be construed literally, and the transaction was a mortgage, then it is urged that, upon forfeiture, the title vested absolutely in the defendant, and an action at…
2Cases cited2 opinions
- Stearns v. MarshNew York Supreme Court · 1847
- Charter v. StevensNew York Supreme Court · 1846
3Cited by8 opinions
- Porter v. . ParmleyNew York Court of Appeals · 1873
- Waterman v. . ShipmanNew York Court of Appeals · 1891
- In re Schuyler Steam Tow-Boat Co.New York Supreme Court · 1892
- In re a Majority of the Trustees of Schuyler's Steam Tow-Boat Co.New York Supreme Court · 1892
- Montgomery v. LeeNew York Supreme Court · 1887
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