Salvin v. . Myles Realty Co.
New York Court of Appeals
Appeal from a judgment of the Appellate Division of the Supreme Court in the first judicial department, entered February 16, 1917, affirming a judgment in favor of defendants entered upon a dismissal of the complaint by the court on trial at Special Term. The nature of the action and the facts, so far as material, are stated in the opinion. The corporation, the Myles Realty Company, was the owner of the mortgage.
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Appeal from a judgment of the Appellate Division of the Supreme Court in the first judicial department, entered February 16, 1917, affirming a judgment in favor of defendants entered upon a dismissal of the complaint by the court on trial at Special Term. The nature of the action and the facts, so far as material, are stated in the opinion. The corporation, the Myles Realty Company, was the owner of the mortgage. It had acquired title more than sixteen months before the transaction in suit. The plaintiff loaned to it on the faith of its record title and the ■ assurance that it owned' the…
1Opinion of the CourtMcLaughlin, J.
This action was brought to foreclose a mortgage on an interest in real estate in the city of New York. The mortgage was for $15,000, which had, by payments, been reduced so that at the time the action was commenced, there was only claimed to be due $2,000 and interest. Two defenses were set up: (a) Usury; and (b) novation. The court at Special Term reached the conclusion that defendants had failed to establish the second defense, but had succeeded upon the first, and directed that the complaint be dismissed upon the merits. From the judgment entered to this effect an appeal was taken to the…
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