Orleans County National Bank v. Moore
New York Court of Appeals
Appeal from order of the G-eneral Term of the Supreme ■ Court in the fifth judicial department, made April 14, 1888, which affirmed an order of Special Term determining as to the application of moneys received on sale of lands under a judgment of foreclosure herein. (Reported below, 48 Hun, 70.) The material facts are stated in the opinion.
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Appeal from order of the G-eneral Term of the Supreme ■ Court in the fifth judicial department, made April 14, 1888, which affirmed an order of Special Term determining as to the application of moneys received on sale of lands under a judgment of foreclosure herein. (Reported below, 48 Hun, 70.) The material facts are stated in the opinion. If Church has made no election as to the application of this money, it results only ’ that the creditor to whom the security is given may elect as to the order in which the proceeds may be applied upon the several obligations jointly secured. (N. Bk. v.…
1Opinion of the CourtPeckham, J.
The question in this case arises as to the application of moneys which are the proceeds of the sale of certain lands on foreclosure of a mortgage given by one George B. Church to the plaintiff herein, on the 22d'day of August, 1884. On that day the plaintiff owned and held a note for $2,500, made by Albert S. Warner (who was then wholly insolvent), and indorsed by George B. Church, dated July 3,1884, and due September 4, 1884. The plaintiff at the same time held and owned a note of $5,000 made by Church and indorsed by one Charles H. Moore, dated June 21, 1884, and due August 23, 1884; also a…
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