Woodward v. McAdam

Paterson, J.—

This is an action on a negotiable promissory note secured by a mortgage given by the defendant McAdam to Shoobert, Beale & Co., and by the latter assigned to this plaintiff. The court below granted a decree of foreclosure as prayed for, and from such decree the defendant Jackson, who is a grantee for value by deed from McAdam given subsequent to the mortgage, has appealed.

The point made is that the mortgagee is a fictitious person—that the mortgage having been made to a partnership doing business under a fictitious name, creates at most only an equity, and as against a subsequent…