Lewin v. Folsom
Massachusetts Supreme Judicial Court
Bill in equity, to redeem land from a mortgage. On April 4,1895, the plaintiff gave to the defendant a mortgage, in form for $18,000, upon land on which were situated partially erected buildings. The mortgage note was in the ordinary form, and contained a promise to pay “ the sum of eighteen thousand dollars in three years from this date, with interest quarterly at the rate of six per cent per annum.”
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Bill in equity, to redeem land from a mortgage. On April 4,1895, the plaintiff gave to the defendant a mortgage, in form for $18,000, upon land on which were situated partially erected buildings. The mortgage note was in the ordinary form, and contained a promise to pay “ the sum of eighteen thousand dollars in three years from this date, with interest quarterly at the rate of six per cent per annum.” At the time of taking the mortgage, the defendant advanced the sum of $10,000 only ; and on April 22,1895, the plaintiff and the defendant executed a written agreement, the material part of…
1Opinion of the CourtHolmes, J.
This is a bill in equity to redeem land from a mortgage for eighteen thousand dollars and interest at six per cent, given in fact, although not in form, to secure future advances. The defendant has advanced ten thousand dollars, and the only question is whether the plaintiff is bound to pay interest upon the whole eighteen thousand dollars for any and what time, or is bound to pay it only upon the sum actually received.
The judge who tried the case charged the plaintiff with interest only on the sum actually received by her, except for a short time which is not in controversy, as the plaintiff…
2Cited by15 opinions
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