Strong v. Strickland
New York Supreme Court
THE plaintiff brought his action to cancel and set aside a mortgage "given by him to Strickland, and by the latter assigned to the Watertown Bank and Loan Company, for usury. The case was tried at the Jefferson circuit, before Justice Bacon, and judgment given for the plaintiff, declaring the mortgage and the bond accompanying the same usurious and void, and enjoining and restraining the foreclosure of the mortgage. Upon the trial the usury was not controverted.
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THE plaintiff brought his action to cancel and set aside a mortgage "given by him to Strickland, and by the latter assigned to the Watertown Bank and Loan Company, for usury. The case was tried at the Jefferson circuit, before Justice Bacon, and judgment given for the plaintiff, declaring the mortgage and the bond accompanying the same usurious and void, and enjoining and restraining the foreclosure of the mortgage. Upon the trial the usury was not controverted. The bond and mortgage were given in April, 1850, and in August, 1852, the plaintiff, the mortgagor, made a general assignment for…
1Opinion of the Court
*286 By the Court,
Allen J.
The plaintiff properly brought this action. Although he has parted with the fee of the mortgaged premises, it is only in trust for the payment of his debts in a prescribed order and by the agency of the trustees. He is interested in having the assigned property appropriated for the purposes to which he has devoted it—'the payment of debts for which he is personally liable. To this extent he is interested in the mortgaged premises as a part of the assigned property, and it is a pecuniary interest which the courts will protect. And from his right to any surplus that may…
2Cases cited7 opinions
- Welland Canal Co. v. HathawayNew York Supreme Court · 1832
- Pratt v. AdamsNew York Court of Chancery · 1839
- Shufelt v. ShufeltNew York Court of Chancery · 1841
- Parks v. TurnerSupreme Court of the United States · 1851
- Green v. MorseNew York Supreme Court · 1848
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3Cited by4 opinions
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