Campbell v. Macomb
New York Court of Chancery
A DECREE was entered in this causé; on the 13th of June, 1820, on the coming in of the Master’s report, [by which it appeared, that there was due to the plaintiffs, as trustees of a charity school, on two bonds and mortgages in ^he pleadings mentioned, for interest, 1,575 dollars.
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A DECREE was entered in this causé; on the 13th of June, 1820, on the coming in of the Master’s report, [by which it appeared, that there was due to the plaintiffs, as trustees of a charity school, on two bonds and mortgages in ^he pleadings mentioned, for interest, 1,575 dollars. That ' the principal of the said bonds, being in the whole, 10,000 dollars, would not be due until the year 1825, but the bonds had became forfeited at law, by the non-payment of interest, and that there was due to the plaintiff, Campbell, 27,499 dollars 98 cents, on two judgments, and that the mortgaged premises…
1Opinion of the Court
The Chancellor.
The sale of the whole of the mortgaged premises was indispensable in this case, because they were not capable of being sold in parcels, or of being divided, without manifest injury to all the parties concerned. When the whole premises are thus necessarily sold, it is the direction of the statute, (1 N. R. L. 490.) that the Court apply the proceeds of the sale not only in payment of the interest, instalment, or portion due, but towards payment of the whole, or residue of the demand, which hath not become due, or payable, provided the same bears interest. But this provision is…
2Cases cited1 opinion
- Lansing v. CapronNew York Court of Chancery · 1815
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- Better v. WilliamsCourt of Appeals of Maryland · 1954
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- 100 Eighth Ave. Corp. v. MorgensternNew York Supreme Court · 1956
- Hawkinson v. BanaghanMassachusetts Supreme Judicial Court · 1909
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