Worcester Mechanics' Savings Bank v. Thayer
Massachusetts Supreme Judicial Court
Contract to recover the balance due upon a promissory note for $6500, dated July 7, 1873, payable on demand to the order of the plaintiff, and signed by the defendant. Trial in the Superior Court, without a jury, before Knowlton, J., who found the following facts: The note in suit was secured by a mortgage, given to the plaintiff by the defendant, of two adjoining lots of land in Worcester.
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Contract to recover the balance due upon a promissory note for $6500, dated July 7, 1873, payable on demand to the order of the plaintiff, and signed by the defendant. Trial in the Superior Court, without a jury, before Knowlton, J., who found the following facts: The note in suit was secured by a mortgage, given to the plaintiff by the defendant, of two adjoining lots of land in Worcester. The defendant afterwards conveyed the land to one William H. Earle, by a warranty deed, which recited that the consideration paid was $14,000, which was the full consideration for the whole estate. The…
1Opinion of the CourtDevens, J.
The principle -which the defendant seeks to maintain is, that the right of the mortgagee to recover, in an action upon the mortgage debt, depends upon the condition of restoring the mortgaged property, or enabling the mortgagor to enforce his equitable lien upon it, if he has parted with his equity of redemption but is entitled to avail himself of such lien for his pei'sonal security; and therefore, that if the mortgagee releases or conveys any of the mortgaged property, except according to the terms or under the authority of the mortgage, there remains no personal liability of the mortgagor…
2Cases cited6 opinions
- Newall v. WrightMassachusetts Supreme Judicial Court · 1807
- Draper v. MannMassachusetts Supreme Judicial Court · 1875
- Amory v. FairbanksMassachusetts Supreme Judicial Court · 1793
- Wing v. HayfordMassachusetts Supreme Judicial Court · 1878
- Townsend Savings Bank v. MunsonSupreme Court of Connecticut · 1879
1 more not listed; retrieve them via the Exa API.
3Cited by16 opinions
- Compton v. JesupCourt of Appeals for the Sixth Circuit · 1895
- Montuori v. BailenMassachusetts Supreme Judicial Court · 1935
- Silverstein v. SasterMassachusetts Supreme Judicial Court · 1934
- Lynn Five Cents Savings Bank v. PortnoyMassachusetts Supreme Judicial Court · 1940
- Brockton Savings Bank v. ShapiroMassachusetts Supreme Judicial Court · 1942
11 more not listed; retrieve them via the Exa API.