Reed v. Latson
New York Supreme Court
This was an action to foreciose two mortgages. The complaint alleged that John W. Latson, to secure the payment of $7980 with interest, to the plaintiff, on the 8th February, 1846, executed his bond, with a condition to pay that amount to the plaintiff as follows: $2000 on the 8th of February, 1847, $3000 on the 8th February, 1848, and the balance on the 8th February, 1849, with interest; and as collateral thereto, he executed to the plaintiff a mortgage on certain premises,…
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This was an action to foreciose two mortgages. The complaint alleged that John W. Latson, to secure the payment of $7980 with interest, to the plaintiff, on the 8th February, 1846, executed his bond, with a condition to pay that amount to the plaintiff as follows: $2000 on the 8th of February, 1847, $3000 on the 8th February, 1848, and the balance on the 8th February, 1849, with interest; and as collateral thereto, he executed to the plaintiff a mortgage on certain premises, therein . described, with the like condition, which mortgage contained the usual power of sale and was duly…
1Opinion of the Court
By the Court, Willard, P. J.
The position taken by the defendants’ counsel, that the mortgages sought to be foreclosed have become inoperative by reason of merger, cannot be maintained. To constitute a merger, the greater and less estate must meet and coincide in the same person. In such case, it is admitted, that at law, the less estate is immediately annihilated. But this rule is not inflexible, in equity. In that court it depends on the intention of the parties, and a variety of other circumstances, whether a merger shall take place or not. (See James v. Morey, 2 Cowen, 246; 7 Paige, 50; 8…
2Cases cited3 opinions
- Mier v. CartledgeNew York Supreme Court · 1850
- Foster v. FosterNew York Court of Chancery · 1838
- Heaton v. BartlettNew York Supreme Court · 1835
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