Van Horne v. McLaren
New York Court of Chancery
This was an appeal from a decree of the vice chancellor of the fourth circuit. The defendant in July, 1831, recovered a judgment in the supreme court against the complainant and J. B. Matthews, for $475,65, damages and costs, and issued an execution thereon, which was returned unsatisfied. He thereupon filed a creditor’s bill against the defendants in that judgment, to obtain satisfaction of his debt out of their equitable assets and choses in action.
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This was an appeal from a decree of the vice chancellor of the fourth circuit. The defendant in July, 1831, recovered a judgment in the supreme court against the complainant and J. B. Matthews, for $475,65, damages and costs, and issued an execution thereon, which was returned unsatisfied. He thereupon filed a creditor’s bill against the defendants in that judgment, to obtain satisfaction of his debt out of their equitable assets and choses in action. The complainant subsequently filed his bill in this cause, alleging that his real estate had been sold under executions upon senior judgments,…
1Opinion of the Court
The following opinion was delivered by the vice chancellor, when the case was before him :
Willard, V. C.
The only question in this case is as to the effect of the redemption by the defendant upon the judgment in his favor, against the complainant and others, *287under which it took place. The complainant insists that it is an equitable satisfaction and extinguishment of the judgment. This right of redemption was first given by the act of 1820, (Laws of 1820, p. 167,) and was improved at the revision of 1829. It extends to one year from the sale, in favor of the defendant in the execution whose…
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