Hubbard v. Savage
Supreme Court of Connecticut
This was a bill in chancery for the foreclosure of mortgaged premises. On the hearing, at Middletown, February term, 1829, before Bis sell, J., the following facts were found. On the 18th of May 1825, John S. Towner, being desirous of borrowing the sum of 2000 dollars, applied to Richard Hubbard to indorse for him his two promissory notes for 1000 dollars each; which Hubbard agreed to do; and on the same day, indorsed one of them.
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This was a bill in chancery for the foreclosure of mortgaged premises. On the hearing, at Middletown, February term, 1829, before Bis sell, J., the following facts were found. On the 18th of May 1825, John S. Towner, being desirous of borrowing the sum of 2000 dollars, applied to Richard Hubbard to indorse for him his two promissory notes for 1000 dollars each; which Hubbard agreed to do; and on the same day, indorsed one of them. Towner thereupon mortgaged to Hubbard the property of which the bill seeks a foreclosure, by a deed duly executed and recorded, the condition of which was as…
1Opinion of the CourtDaggett, J.
The question in this case, is, whether the note indorsed by Richard Hubbard for John S. Towner, on the 16th of June 1825, for 1000 dollars, is a lien on the mortgaged property, so that the decree to be passed shall embrace it This is understood, by the court and counsel, to be the only question. It may be otherwise thus stated: Is the mortgage deed of the 18th of May 1825, in point of law, a security for the payment of the note for 1000 dollars, indorsed on the 16th of June 1825, against a subsequent bona fide creditor with notice?
The fact of notice to the defendant Savage, in my judgment,…
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