Lawrence v. Knap
Supreme Court of Connecticut
Petition in chancery; showing that Lownsbury was indebted to Plat, for which be gave bis note and a mortgage as collateral security; which deed was recorded. Plat was indebted to Hunter, and for a valuable consideration assigned said note to him at tbe same time delivered him said mortgage deed. Hunter assigned said note to tbe petitioner for a debt which be owed him and also delivered to him said mortgage.
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Petition in chancery; showing that Lownsbury was indebted to Plat, for which be gave bis note and a mortgage as collateral security; which deed was recorded. Plat was indebted to Hunter, and for a valuable consideration assigned said note to him at tbe same time delivered him said mortgage deed. Hunter assigned said note to tbe petitioner for a debt which be owed him and also delivered to him said mortgage. Tbe petitionees' attached tbe mortgaged lands and bad them set off to them on executions, as Plat’s estate, in satisfaction of debts due from Plat to them. Tbe petitioner bad recovered…
1Opinion of the Court
This cause was twice argued. The court now granted the petition and passed a decree against Menzey; Knap having deceased pending the suit, for him to release all his right to said mortgaged premises; upon the principle that the petitioner owned the debt for which said mortgage was given as collateral security —• that he who is entitled to the debt, which is the principal thing, hath right to all the collateral securities, given to insure the payment of the debt; especially as in this case, where the actual delivery of the mortgage accompanied the assignment of the note, of which the…
2Cited by1 opinion
- Bulkley v. ChapmanSupreme Court of Connecticut · 1831