Pratt v. Waterhouse
Supreme Court of Pennsylvania
Appeal, No. 252, Oct. T., 1893, by T. D. Collins, terre tenant, from order of C. P. Forest Co., Aug. T., 1892, No. 24, refusing to open judgment and stay execution, in Charles W. Pratt et al., to use of Fredonia National Bank of New York v. J. A. Waterhouse et al. Rule to open judgment, etc. Before Noyes, P. J7 From the record it appeared that, on Oct. 10, 1890, J. A. Waterhouse purchased certain lands from plaintiffs, and gave a mortgage to secure balance of purchase money.
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Appeal, No. 252, Oct. T., 1893, by T. D. Collins, terre tenant, from order of C. P. Forest Co., Aug. T., 1892, No. 24, refusing to open judgment and stay execution, in Charles W. Pratt et al., to use of Fredonia National Bank of New York v. J. A. Waterhouse et al. Rule to open judgment, etc. Before Noyes, P. J7 From the record it appeared that, on Oct. 10, 1890, J. A. Waterhouse purchased certain lands from plaintiffs, and gave a mortgage to secure balance of purchase money. The Fredonia National Bank took a second mortgage on the same premises. In September, 1891, T. D. Collins bought and…
1Opinion of the Court
Opinion by
Mr. Justice Mitchell,
We must assume, as it is averred by appellant, and not denied by plaintiff, that the bank as holder of the second mortgage consented to the sale of the timber by the mortgagor to appellant, and accepted the purchase money. This was equivalent to a releasfe of the timber from the lien of its mortgage, and it has now no right to levy upon or sell the timber under that mortgage. It is precisely analogous to the release of a portion of the mortgaged premises. Its claim against such released portion is gone, and as against an intervening purchaser cannot be revived.…
2Cases cited9 opinions
- Church v. RulandSupreme Court of Pennsylvania · 1870
- Aycinena v. PeriesSupreme Court of Pennsylvania · 1843
- Church v. MooreSupreme Court of Pennsylvania · 1849
- Mevey's AppealSupreme Court of Pennsylvania · 1846
- Phelps's AppealSupreme Court of Pennsylvania · 1881
4 more not listed; retrieve them via the Exa API.
3Cited by7 opinions
- Padelford v. Real Estate-Land Title & Trust Co.Superior Court of Pennsylvania · 1935
- Fredonia National Bank v. BordenSupreme Court of Pennsylvania · 1895
- Fredonia National Bank v. PerrinSupreme Court of Pennsylvania · 1895
- Harris County Houston Ship Channel Nav. Dist. v. WilliamsCourt of Appeals of Texas · 1935
- Leyer v. Keal & GeorgeSuperior Court of Pennsylvania · 1927
2 more not listed; retrieve them via the Exa API.