Upton v. National Bank of South Reading
Massachusetts Supreme Judicial Court
Bill in equity by the assignee in bankruptcy of Daniel P. Emerson, to redeem certain lands from a mortgage given by Emerson to John Sawyer, to secure the payment of $4500, and assigned by several conveyances to the defendant. The bill alleged that the debt for which the mortgage was given had been all paid, except the sum of $800 and interest from August, 1873, and that before this suit was begun the plaintiff was ready and offered to pay that sum to the bank.
Read the full summary
Bill in equity by the assignee in bankruptcy of Daniel P. Emerson, to redeem certain lands from a mortgage given by Emerson to John Sawyer, to secure the payment of $4500, and assigned by several conveyances to the defendant. The bill alleged that the debt for which the mortgage was given had been all paid, except the sum of $800 and interest from August, 1873, and that before this suit was begun the plaintiff was ready and offered to pay that sum to the bank. The defendant’s answer admitted these allegations, and alleged that prior to February 21,1871, the bank had three notes against…
1Opinion of the CourtDevens, J.
While it is not lawful for banking associations, established under the U. S. St. of 1864, c. 106, to purchase, hold and convey real estate except in certain specified cases, among these exceptions are included such real estate “ as shall be mortgaged to it in good faith by way of security for debts previously contracted; such as shall be conveyed to it in satisfaction of *156debts previously contracted in the course of its dealings; such as it shall purchase at sales under judgments, decrees or mortgages held by such association, or shall purchase to secure debts due to said association.” Under…
2Cited by21 opinions
- United States v. StowellSupreme Court of the United States · 1890
- Bon v. GravesMassachusetts Supreme Judicial Court · 1914
- Financial Acceptance Corp. v. GarveyMassachusetts Appeals Court · 1978
- Carpenter v. PlaggeIllinois Supreme Court · 1901
- Putnam v. LovelandCourt of Appeals for the First Circuit · 1907
16 more not listed; retrieve them via the Exa API.