Bank for Savings v. Ashley Garages, Inc.

This is a motion to dismiss the cross complaint on the ground that the cause of action therein set forth is barred by the Statute of Limitations. The cross complaint seeks judgment against the moving defendants on a bond and mortgage dated March 26, 1924, and maturing May 1, 1927. No extension agreements were ever entered into nor was any payment of interest made since November 1, 1933. The bond was under seal.

The applicable Statute of Limitations is section 47-a of the Civil Practice Act which purports to cover actions on bonds and mortgages secured by real property. Section 47, dealing with…