Lawrence v. . the Farmers' Loan and Trust Co.
New York Court of Appeals
Action commenced in the superior court of the city of New-York in October, 1853, by the heirs of John T. Champlin, deceased, to redeem premises alleged to have been mortgaged to the defendant, the Farmers’ Loan and Trust Company, in 1824. The complaint stated the following facts: On the first of June, 1824, Benjamin Bniley was seized in fee simple of an equal undivided moiety of certain lands, situate at Harlem, in the city of New-York, in trust •for tire sole use and…
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Action commenced in the superior court of the city of New-York in October, 1853, by the heirs of John T. Champlin, deceased, to redeem premises alleged to have been mortgaged to the defendant, the Farmers’ Loan and Trust Company, in 1824. The complaint stated the following facts: On the first of June, 1824, Benjamin Bniley was seized in fee simple of an equal undivided moiety of certain lands, situate at Harlem, in the city of New-York, in trust •for tire sole use and benefit of John T. Champlin. An instrument bearing date on that day was executed by Bailey and Champlin under seal, to the…
1Opinion of the CourtGardiner, C. J.
If the deed executed by Champlin in 1824, was a mortgage, as the counsel for the complainant insists, the latter may claim the benefit of the rule “ that a court of chancery will not permit a creditor, by mortgage, to obtain a collateral or additional advantage through the necessities of the debtor, beyond the payment of principal, interest and costs; and that equity will let a man loose from his agreement, and even against his agreement admit him to redeem a mortgage.” (Coote on Mor. 11, and case cited.) I have quoted the strong language of an elementary writer, because it is borrowed from…
2Cases cited4 opinions
- Benedict v. Gilman & CouchNew York Court of Chancery · 1833
- Chowning v. CoxSupreme Court of Virginia · 1823
- Palmer v. GurnseyNew York Supreme Court · 1831
- Ogden v. GrantCourt of Appeals of Kentucky · 1838
3Cited by21 opinions
- Mooney v. . ByrneNew York Court of Appeals · 1900
- National Park Bank v. . KoehlerNew York Court of Appeals · 1912
- Shillaber v. RobinsonSupreme Court of the United States · 1878
- Turpie v. LoweIndiana Supreme Court · 1888
- Downing Development Corp. v. BrazeltonCourt of Appeals of Maryland · 1969
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