Firemen's Insurance v. Wilkinson
Supreme Court of New Jersey
Ebenezer M. Crosby executed a bond and mortgage to the complainant to secure $1,000, and then conveyed the premises to David B. Crockett, who, as part of the consideration, assumed the payment of said mortgage. Crockett mortgaged, in his turn, the premises so purchased, and this mortgage was subsequently foreclosed without the first mortgagee being made a party.
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Ebenezer M. Crosby executed a bond and mortgage to the complainant to secure $1,000, and then conveyed the premises to David B. Crockett, who, as part of the consideration, assumed the payment of said mortgage. Crockett mortgaged, in his turn, the premises so purchased, and this mortgage was subsequently foreclosed without the first mortgagee being made a party. At the sheriff’s sale, in this proceeding, Wilkinson, the respondent, became the purchaser, and thereupon, as the bill states, made his “ collateral bond ” to the appellant to secure the payment of the same indebtedness secured by the…
1Opinion of the Court
The opinion of the court was delivered by
Beasley, C. J.
The only question in litigation in this case is with respect to the legal position of Wilkinson, the respondent in the controversy. He has filed an answer setting up that by reason of certain circumstances, which are stated, he has been discharged from the obligation of the bond which he executed to the appellant, and by force of which a decree for deficiency is now sought against him. Those circumstances are as follows: That when he sold and conveyed the mortgaged premises, his grantee assumed the payment of the mortgage in question, and…
2Cases cited3 opinions
- Calvo v. . DaviesNew York Court of Appeals · 1878
- Cary v. . WhiteNew York Court of Appeals · 1873
- Mechanics' Bank v. LevyNew York Court of Chancery · 1831
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- Adelman v. Franklin Washington Trust Co.New Jersey Court of Chancery · 1945
- Eichler v. Hillside National BankNew Jersey Superior Court Appellate Division · 1961