Fearey v. Williams

L. HAND, Circuit Judge.

These are appeals from an interlocutory decree entered upon the petition of a testamentary trustee against insolvency receivers. In 1930 Fearey, the petitioner, whom it will be convenient to speak of as the mortgagee, bought a mortgage from the New York Title & Mortgage Company, which gave him a written guaranty, a separate document from the assignment. By this they guaranteed “payment of the principal of said bond and mortgage and of every instalment thereof, as soon as collected but in any event within eighteen months after the same shall have become due and shall…