President of the Ontario Bank v. Lansing
New York Supreme Court
Motion by plaintiff to vacate a sale under execution. Six ^°*:s ™ &e cffy of Albany were sold by virtue of a fieri facias^ and bought in by the assignee of the judgment, for the sum °f $2560 ; the amount directed to be levied on the executjon was #1872 86, with interest from 9th March, 1828. ^ y Previous to the sale, the defendant in the execution proposed to the assignee certain terms on which the property should be sold, by which it was provided, among other things, that…
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Motion by plaintiff to vacate a sale under execution. Six ^°*:s ™ &e cffy of Albany were sold by virtue of a fieri facias^ and bought in by the assignee of the judgment, for the sum °f $2560 ; the amount directed to be levied on the executjon was #1872 86, with interest from 9th March, 1828. ^ y Previous to the sale, the defendant in the execution proposed to the assignee certain terms on which the property should be sold, by which it was provided, among other things, that out of the proceeds of the sales, a mortgage executed by the defendant, which was a lien upon the lots senior to…
1Opinion of the Court
By the Court, Marcy, J.
The peculiar circumstances of this case might lead to difficulties and embarrassments. The purchaser, who is the assignee of the judgment, intimating his intention to have bid for the property sold a sufficient amount to pay and satisfy his judgment, in case a redemption was sought by the defendant or a junior judgment creditor ; and having, in fact, bid for the same a sum sufficiently great to effect that object, is entitled to have bis rights placed beyond the reach of controversy. The embarrassments which exist in the case grow out of the agreement with the defendant…
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