Hunt v. . Chapman
New York Court of Appeals
Appeal from judgment of the General Term of the Supreme Court in the second judicial district, affirming judgment in favor of plaintiff entered upon the report of a referee. The action was brought to foreclose a mortgage given by defendant, Chapman, to Eunice Chapman, to secure the payment of his bond of $5,490, and interest, which bond and mortgage were held by plaintiff as assignee.
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Appeal from judgment of the General Term of the Supreme Court in the second judicial district, affirming judgment in favor of plaintiff entered upon the report of a referee. The action was brought to foreclose a mortgage given by defendant, Chapman, to Eunice Chapman, to secure the payment of his bond of $5,490, and interest, which bond and mortgage were held by plaintiff as assignee. The complaint was in the usual form, concluding with a demand that the defendant, Chapman, might be adjudged to pay any deficiency which might remain after applying all the moneys that might arise from a sale of…
1Opinion of the Court
Gray, C.
This action, although denominated an action for the foreclosure of a mortgage, is in law and in fact an action for the recovery of the amount unpaid on Chapman’s bond; first by an order for the sale of the premises mortgaged by him as collateral security for its payment, and the application of the avails of the sale to that purpose, and then for a judgment against him for the deficiency. It is not only an action against Chapman upon his contract to pay the amount specified in his bond, to which an offset might have been pleaded before the Code (2 R. S., 354, § 18, sub. 1), but one in…
2Cases cited1 opinion
- National Fire Insurance Company v. . McKayNew York Court of Appeals · 1860
3Cited by15 opinions
- American Guild v. . DamonNew York Court of Appeals · 1906
- Howard Iron Works v. Buffalo Elevating Co.New York Court of Appeals · 1903
- Lipman v. Jackson Architectural Iron WorksNew York Court of Appeals · 1891
- Merritt v. GouleyNew York Supreme Court · 1890
- Bathgate v. . HaskinNew York Court of Appeals · 1875
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