Palmer v. Yates
The Superior Court of New York City
Bill to foreclose a mortgage. The suit was originally commenced in the court of chancery, before the vice-chancellor of the first circuit. On the adoption of the new constitution, the cause passed into the supreme court, and was thence transferred to this court, in pursuance of the act of March 24,1849. The bill was filed against Henry Tates, the mortgagor, and against Joseph D. Beers and Thomas Gf.
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Bill to foreclose a mortgage. The suit was originally commenced in the court of chancery, before the vice-chancellor of the first circuit. On the adoption of the new constitution, the cause passed into the supreme court, and was thence transferred to this court, in pursuance of the act of March 24,1849. The bill was filed against Henry Tates, the mortgagor, and against Joseph D. Beers and Thomas Gf. Talmadge, successively presidents, Lewis Curtís, Richard M. Blatchford, and JohnL. Graham, trustees, and David Leavitt, receiver, of The Horth American Trust and Banking Company. The bill was…
1Opinion of the CourtBy the Court. Duer, J.
This is a bill for the foreclosiu’e of a mortgage, for securing the payment of 25,000 dollars, executed and delivered by the defendant, Henry Yates and his wife, in September, 1838, to The Horth American Trust and Banking Company, an association organized under the general banking law of this state. The consideration of the mortgage was the nominal amount, or par value, of two hundred and fifty shares in the capital stock of the company, for which the defendant, Yates, as an original associate, had subscribed; and the legality of the consideration, and consequently the original validity of…
2Cited by2 opinions
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