Washington Life Ins. Co. v. . Clason
New York Court of Appeals
Appeal from a judgment and order of the Appellate Division of the Supreme Court in the first judicial department, entered Hay 13, 1897, affirming a judgment in favor of plaintiff entered upon a decision of the court on trial at Special Term. The nature of the action and the facts, so far as material, are stated in the opinion.
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Appeal from a judgment and order of the Appellate Division of the Supreme Court in the first judicial department, entered Hay 13, 1897, affirming a judgment in favor of plaintiff entered upon a decision of the court on trial at Special Term. The nature of the action and the facts, so far as material, are stated in the opinion. The-bond and mortgage in suit having been taken in direct contravention of the statutes authorizing loans by life insurance companies, are void and no recovery can- be had thereon. (L. 1892, ch. 690, §§ 16, 36; Arnot v. P. & E. C. Co., 68 N. Y. 558; Peck v. Burr, 10 N.…
1Opinion of the CourtLandon, J.
The complaint is in the usual form for the foreclosure of a past-due mortgage given February 26, 1896, by the defendant Clason to the plaintiff to secure the payment of the defendant’s bond of the same date for $20,000 and interest, which sum the plaintiff then loaned to the defendant.
The plaintiff is a domestic life insurance corporation.
Upon the trial, after the plaintiff had made out a prima, facie case, the defendant offered to prove under the allegations of the answer that at the time of the making of the loan secured by the bond and mortgage the premises mortgaged were incumbered, and…
2Cases cited4 opinions
- National Bank v. MatthewsSupreme Court of the United States · 1879
- Whitney Arms Co. v. . BarlowNew York Court of Appeals · 1875
- Village of Fort Edward v. . FishNew York Court of Appeals · 1898
- Pratt v. . ShortNew York Court of Appeals · 1880
3Cited by5 opinions
- Mutual Life Ins. Co. v. . StephensNew York Court of Appeals · 1915
- In re Waterloo Organ Co.Court of Appeals for the Second Circuit · 1904
- East Side Credit Union v. LeimanNew York Supreme Court · 1927
- Patrons of Industry Fire Insurance v. PlumAppellate Division of the Supreme Court of the State of New York · 1903
- Hart v. City Theatres Co.Appellate Division of the Supreme Court of the State of New York · 1913