Greist v. Gowdy
Supreme Court of Connecticut
Suit to foreclose a mortgage of real estate, brought to and tried by the Superior Court in New Haven County, Roraback, J.; facts found and judgment rendered for the plaintiff, and appeal by the defendant. On August 24th, 1906, the Congress Laundry Company mortgaged land to the plaintiff to secure a demand note to the plaintiff for $1,000, and also to secure the plaintiff’s indorsement upon a four-month note for $1,500 payable at a bank. The mortgage was duly recorded.
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Suit to foreclose a mortgage of real estate, brought to and tried by the Superior Court in New Haven County, Roraback, J.; facts found and judgment rendered for the plaintiff, and appeal by the defendant. On August 24th, 1906, the Congress Laundry Company mortgaged land to the plaintiff to secure a demand note to the plaintiff for $1,000, and also to secure the plaintiff’s indorsement upon a four-month note for $1,500 payable at a bank. The mortgage was duly recorded. The condition properly described the notes, contained certain agreements of the mortgagee, one of which was to apply the…
1Opinion of the CourtGager, J.
The condition in the mortgage described an indorsed note for $1,500. If the indorsed note of March 13th, 1907, for $500, represented in fact a part of the original indorsed note of $1,500, then this note for $500 is secured by the mortgage. It is familiar law that no change in the form of the indebtedness, or in the mode or time of payment, will discharge the mortgage. Bolles v. Chauncey, 8 Conn. 389, 392; 1 Jones on Mortgages (6th Ed.) § 924. This principle also extends to renewal indorsements. If an indorser, by reason of his indorsement, is compelled to pay the note, and under this…
2Cases cited4 opinions
- Bolles v. ChaunceySupreme Court of Connecticut · 1831
- Peters v. GoodrichSupreme Court of Connecticut · 1819
- Pond v. ClarkeSupreme Court of Connecticut · 1841
- Carroll v. WeaverSupreme Court of Connecticut · 1894
3Cited by4 opinions
- Lomas & Nettleton Co. v. IsacsSupreme Court of Connecticut · 1924
- City National Bank v. StoeckelSupreme Court of Connecticut · 1926
- Second National Bank of New Haven v. DyerSupreme Court of Connecticut · 1936
- Windsor Trust Co. v. ChampignySupreme Court of Connecticut · 1927