Bristol County Savings Bank v. Woodward
Massachusetts Supreme Judicial Court
Appeal from a decision of commissioners in insolvency, disallowing a claim of the plaintiff against the estate of the defendant’s intestate.
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Appeal from a decision of commissioners in insolvency, disallowing a claim of the plaintiff against the estate of the defendant’s intestate. Trial in this court, before Colburn, J., who reported the case for the determination of the full court, in substance as follows: In 1869, John Seekell, the defendant’s intestate, bought of one Presbrey a parcel of land in Taunton, which was then subject to a mortgage for $2500 from Presbrey to the plaintiff to secure a promissory note for that amount signed by Presbrey. Presbrey “gave Seekell a warranty deed, excepting the mortgage, and containing a…
1Opinion of the CourtDevens, J.
It is established as a principle by our decisions, that, where the creditor of the insolvent estate of a deceased person holds a mortgage or other collateral security for his debt, which he received from his debtor, he cannot be admitted to prove his debt except for the balance which may remain afterdeducting the value of the security, (which value is first to be ascertained by sale or appraisal,) unless he will surrender the security to go into the common fund for the payment of creditors. Amory v. Francis, 16 Mass. 308. Middlesex Bank v. Minot, 4 Met. 325. Savage v. Winchester, 15 Gray,…
2Cases cited3 opinions
- Amory v. FrancisMassachusetts Supreme Judicial Court · 1820
- Fairbairn v. MeansCourt of Appeals of Kentucky · 1863
- Wilson v. BryantMassachusetts Supreme Judicial Court · 1883
3Cited by9 opinions
- Atkins v. AtkinsMassachusetts Supreme Judicial Court · 1907
- Jones v. Arena Publishing Co.Massachusetts Supreme Judicial Court · 1898
- Emlen's EstateSupreme Court of Pennsylvania · 1939
- Patrick v. DunbarMassachusetts Supreme Judicial Court · 1936
- Franklin County National Bank v. First National BankMassachusetts Supreme Judicial Court · 1885
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