Dobson v. . Racey
New York Court of Appeals
In July, 1817) James Dobson and wife executed to Charles Racey a mortgage upon lands in Richmond county, as collateral security for the payment of $1,500 to Racey, for which Dobson gave his bond.
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In July, 1817) James Dobson and wife executed to Charles Racey a mortgage upon lands in Richmond county, as collateral security for the payment of $1,500 to Racey, for which Dobson gave his bond. Dobson, on the 7th of October following, being in feeble health, executed to Racey a power of attorney, authorizing him to sell and convey in fee the mortgaged premises for such consideration as he might think proper, and after paying the principal and interest of the mortgage to pay one half the net surplus to his (Dobson’s) wife. Immediately after executing the power of attorney, Dobson went to…
1Opinion of the Court
The opinion of the court was delivered by
Ruggles,Ch. J.
It is very satisfactorily shown that the land in controversy, during the year 1817, and for several years afterwards, was not worth anymore than the money for. which it was mortgaged to Charles Racey. Indeed, the evidence shows it to have been worth less than that amount. There is no room',; lerefore, for believing that Racey intended to get the land for less than it was worth, by conveying it to Harrison and receiving his reconveyance. A foreclosure and sale at auction would probably have left Racey with an uncollectable balance due on…
2Cited by4 opinions
- Christianson v. Mille Lacs Land & Loan Co.Supreme Court of Minnesota · 1910
- Morgenstern v. HillThe Superior Court of the City of New York and Buffalo · 1894
- Dobson v. RaceyNew York Court of Appeals · 1853
- Morgenstern v. HillSuperior Court of Buffalo · 1894