Fair and Sq. B. L. A. v. Pres. Bd.

This proceeding by a second mortgagee which became owner of the mortgaged real estate by purchase at its own foreclosure sale, was brought to compel the assignee of the first mortgage, to which plaintiff's title is subject, to note of record what plaintiff contends was a payment by the mortgagor of $2,000, thereby reducing the principal debt of the first mortgage to $10,000. The chancellor dismissed the bill; exceptions filed were overruled, and an appeal was taken by plaintiff to the Superior Court, which reversed the trial court's decree. Upon special allowance, defendant appealed to this…