Trustees of Canandarqua Academy v. McKechnie
New York Court of Appeals
Appeal from judgment of the General Term of the Supreme Court, in the fourth judicial department, entered upon an order made the se'cond Monday of June, 1881, which affirmed a judgment in favor of plaintifE, entered upon a decision of the court on trial at Special Term.
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Appeal from judgment of the General Term of the Supreme Court, in the fourth judicial department, entered upon an order made the se'cond Monday of June, 1881, which affirmed a judgment in favor of plaintifE, entered upon a decision of the court on trial at Special Term. This action was brought to foreclose a mortgage, the material portions of which are as follows: “This indenture, made this 4th day of December, in the year of our Lord one thousand eight hundred and twenty-seven, between the Ontario Female Seminary of the first part and the Trustees of the Canandarqua Academy of the second…
1Opinion of the CourtTracy, J.
The principal question to be determined in this case is whether the event, upon which the mortgage given by the Ontario Female Seminary was 'to become due and payable, has happened ?
It is insisted by the appellant that the right to demand the money, upon the mortgage does not accrue until the Ontario Female Seminary as a corporation shall be dissolved and cease to exist.
By the respondent it is contended that the right to demand the money upon the mortgage accrued whenever the corporation should cease to devote its funds and its seminary building, mentioned and described in the mortgage, to…
2Cases cited9 opinions
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- Jackson ex dem. Merritt v. GumaerNew York Supreme Court · 1824
- The Bank of Genesee v. . the Patchin BankNew York Court of Appeals · 1855
- Fort v. BurchNew York Supreme Court · 1849
- Stoddard v. Onondaga Annual Conference of the Methodist Protestant ChurchNew York Supreme Court · 1851
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- Quackenboss v. Globe & Rutgers Fire InsuranceNew York Court of Appeals · 1903
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