Colby v. McClintock
Supreme Court of New Hampshire
Assumpsit, to recover the amount due upon promissory notes. Trial by the court, April term, 1894. The notes were secured by a mortgage of real estate, upon which the plaintiff recovered a conditional judgment at the same term, the amount adjudged due to the plaintiff being the full amount of the notes.
Read the full summary
Assumpsit, to recover the amount due upon promissory notes. Trial by the court, April term, 1894. The notes were secured by a mortgage of real estate, upon which the plaintiff recovered a conditional judgment at the same term, the amount adjudged due to the plaintiff being the full amount of the notes. The defendants claimed that the value of the land for the possession of which the conditional judgment was rendered should be deducted from the amount due upon the notes, and judgment for the balance only should be rendered in this action. It was ruled otherwise, and a verdict for the full…
1Opinion of the CourtWallace, J.
The mortgagee has a remedy on his notes against the person and property of the debtor. He also has another separate and independent remedy on the mortgage, by foreclosure to enforce the lien upon the debtor’s real estate which by the mortgage he has charged with the payment of the debt represented by the notes. The mortgage may be discharged without releasing the mortgagor from his personal liability on the debt; and the personal liability on the debt may be terminated by a discharge in bankruptcy or insolvency of the mortgagor without extinguishing or discharging the mortgage. Neither is a…
2Cases cited1 opinion
- Thayer v. PeopleMichigan Supreme Court · 1847
3Cited by5 opinions
- Royal Palm Corporate Center Ass'n v. PNC Bank, NADistrict Court of Appeal of Florida · 2012
- McKeen v. CookSupreme Court of New Hampshire · 1905
- Porter v. Alamocitos Land & Livestock Co.New Mexico Supreme Court · 1925
- Wright v. WimberlyOregon Supreme Court · 1919
- Wright v. WimberlyOregon Supreme Court · 1919