Phelps v. Ellsworth
Supreme Court of Connecticut
WRIT of error. This was a petition in chancery brought to the superior court, by the honourable Oliver Ellsworth, deceased, stating that James Phelps and James Phelps, jun. being indebted to him, in the sum of 2,569 dollars and 49 cents, gave their note, payable the 1st of May, 1805, on interest, and conveyed, by deed of that dale, seven pieces of land, as collateral security; and on the 4th of March, ¡803, they became further indebted, in the sum of 1,000 dollars, payable…
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WRIT of error. This was a petition in chancery brought to the superior court, by the honourable Oliver Ellsworth, deceased, stating that James Phelps and James Phelps, jun. being indebted to him, in the sum of 2,569 dollars and 49 cents, gave their note, payable the 1st of May, 1805, on interest, and conveyed, by deed of that dale, seven pieces of land, as collateral security; and on the 4th of March, ¡803, they became further indebted, in the sum of 1,000 dollars, payable at the same time with the former; and as collateral security for the 1,000 dollars, executed a deed of four other pieces…
1Opinion of the Court
By the Court.
At law, both mortgages are forfeited; the mortgagee has a legal title to both, 't he only inquiry is, what is equitable between the parties. All agree, that the moi tgagor, on his petition, cannot redeem one mortgage without the other. The reason assigned is, that as his relief is in equity only, he shall do equity to obtain it. The principle guiding such decisions is that it is equitable he should redeem both, or neither; and surely it cannot vary the principle, and ought not to alter the rule of equity, between the parties, that one, or the other, applies for it, unless the…
2Cited by4 opinions
- Compton v. JesupCourt of Appeals for the Sixth Circuit · 1895
- Savings Bank of New London v. SantanielloSupreme Court of Connecticut · 1943
- Rowan v. Sharps' Rifle Manufacturing Co.Supreme Court of Connecticut · 1860
- Frink v. BranchSupreme Court of Connecticut · 1844