Riggs v. Carter
Appellate Division of the Supreme Court of the State of New York
Appeal by the defendant, Myron Carter, from a judgment of the Supreme Court in favor of the plaintiffs, entered in the office of the clerk of the county of Albany on the 22d day of August, 1902, upon the decision of the court, rendered' after a trial at the Albany Special Term, foreclosing a mortgage and directing a sale of the mortgaged premises.
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Appeal by the defendant, Myron Carter, from a judgment of the Supreme Court in favor of the plaintiffs, entered in the office of the clerk of the county of Albany on the 22d day of August, 1902, upon the decision of the court, rendered' after a trial at the Albany Special Term, foreclosing a mortgage and directing a sale of the mortgaged premises. The Republic Savings and Loan Association, a domestic corporation, was organized in 1890. The plaintiffs were appointed temporary receivers of said association on the 29th day of June, 1900, and the association was dissolved and the plaintiffs were…
1Opinion of the Court
Chase, J.:
The appellant and respondents are not simply debtor and creditors. The relation between them is different from the usual relation between mortgagor and mortgagees. Appellant first became a member of the association, and as a member he was obligated to pay certain dues and was subject to certain fines. His stock was payable at maturity. Its maturity depended upon the profits of the association, some portion of which was derived from premiums paid by borrowing members. When appellant gave his bond and mortgage the association simply advanced money to him on account of the maturity…
2Cases cited1 opinion
- Hall v. StowellAppellate Division of the Supreme Court of the State of New York · 1902
3Cited by6 opinions
- Preston v. ReinhartAppellate Division of the Supreme Court of the State of New York · 1905
- Roberts v. CronkAppellate Division of the Supreme Court of the State of New York · 1904
- Preston v. . RockeyNew York Court of Appeals · 1906
- Preston v. LamanoNew York Supreme Court · 1905
- Riggs v. Capital Brick Co.U.S. Circuit Court for the District of Connecticut · 1904
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