Amory v. Francis
Massachusetts Supreme Judicial Court
Assumpsit upon a promissory note, made by Uriah Cotting, the defendant’s intestate, to the plaintiff. It was agreed, in a case stated by the parties, that Cotting, for securing the payment of the note, executed a * mort- [ * 309 ] gage of certain real estate, of less value than the amount due on the notf. The estate of the intestate was duly represented insolvent, com nissioners appointed, and regular notice given for creditors to prove their debts.
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Assumpsit upon a promissory note, made by Uriah Cotting, the defendant’s intestate, to the plaintiff. It was agreed, in a case stated by the parties, that Cotting, for securing the payment of the note, executed a * mort- [ * 309 ] gage of certain real estate, of less value than the amount due on the notf. The estate of the intestate was duly represented insolvent, com nissioners appointed, and regular notice given for creditors to prove their debts. The plaintiff presented the note declared on as a claim, and required that the commissioners should allow the whole amount thereof, so that upon…
1Opinion of the Court
Parker, C. J.,
delivered 'the opinion of the Court (5). It is remarkable that the point presented in this case has not been before decided; especially as we understand that a different practice has prevailed in different counties, in relation to this subject.
[ * 311 ] * The rule adopted by the Court of Chancery in England, and enforced by the commissioners of bankruptcy, is certainly just and equitable ; requiring that every creditor, having a mortgage or other security, shall, before he is admitted to prove his debt, surrender his security for t.he benefit of the other creditors, the proceeds…
2Cited by48 opinions
- Merrill v. National Bank of JacksonvilleSupreme Court of the United States · 1899
- Bank Commissioners v. Security Trust Co.Supreme Court of New Hampshire · 1900
- Charles P. Kellogg & Co. v. MillerOregon Supreme Court · 1892
- National Union Bank v. National Mechanics' BankCourt of Appeals of Maryland · 1895
- Allen v. DanielsonSupreme Court of Rhode Island · 1887
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