Haggins's Heirs v. Peck

Judge Simpson

delivered the opinion of the Court.

Michael Fishell having a debt on Thomas Fiahaven for seven hundred and' seventy dollars, secured by a mortgage on a large tract of land, on the 26th February, 1821, entered into a written agreement with James Haggin and Thomas Duckham, by which the two last named individuals bound themselves to pay him for his debt on Fiahaven the sum of eleven hundred dollars, in three annual instalments, and he agreed, upon the *211payments being made or secured, to transfer to them, without recourse, the debt on Flahaven and the mortgage executed to secure its…