Stickney v. Evans
Massachusetts Supreme Judicial Court
Contract upon the following agreement signed by the defendant : “ Boston, July 26, 1875. Whereas J. H. Stickney has this day lent J. W. Olmstead the sum of five thousand dollars, on a mortgage of the house owned and occupied by said Olmstead, numbered eight (8) Worcester Square, Boston, said mortgage being over a mortgage to Boston Five Cents Savings Bank for ten thousand dollars.
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Contract upon the following agreement signed by the defendant : “ Boston, July 26, 1875. Whereas J. H. Stickney has this day lent J. W. Olmstead the sum of five thousand dollars, on a mortgage of the house owned and occupied by said Olmstead, numbered eight (8) Worcester Square, Boston, said mortgage being over a mortgage to Boston Five Cents Savings Bank for ten thousand dollars. Now therefore, should a breach in the conditions of said mortgage occur, and should the said Stickney be obliged to sell said house, in such a case the said Stickney shall advertise and sell, and I will purchase at…
1Opinion of the CourtColt, J.
The plaintiff took from Olmstead a second mortgage containing a power of sale, as security for money then lent by the plaintiff to him. At the same time the defendant, by a written agreement reciting the transaction between the plaintiff and Olmstead, promised the plaintiff, in substance, that he would *203purchase the property mortgaged, and pay the amount due on the plaintiff’s mortgage, in case he should be obliged to sell, and should advertise and sell the same.
The premises were sold under the power of sale for breach of condition, subject to the prior mortgage. The defendant did not appear…
2Cases cited2 opinions
- Model Lodging House Ass'n v. City of BostonMassachusetts Supreme Judicial Court · 1873
- Wing v. HayfordMassachusetts Supreme Judicial Court · 1878
3Cited by2 opinions
- Loveland v. ClarkSupreme Court of Colorado · 1888
- Binz v. HyattSupreme Court of Missouri · 1906