National Surety Co. v. Manhattan Mortgage Co.
Appellate Division of the Supreme Court of the State of New York
Appeal by the plaintiff, National Surety Company, from a judgment of the Supreme Court in favor of the defendant, entered in the office of the clerk of the county of New York on the 2d day of July, 1918, dismissing the complaint on the merits upon the decision of the court after a trial before the court, a jury having been waived.
1Opinion of the Court
Smith, J.:
In February, 1913, the defendant held a mortgage for $20,000 covering premises owned by the Orosant Construction Company. That company desired to increase the mortgage to $25,000. The defendant agreed to surrender its $20,000 mortgage and take a prior interest in a $25,000 first mortgage, provided someone could be found to take a subordinate $5,000 interest. One Annie G. Wallace, an old lady, was the guardian of George F. Brennan and Mary K. Brennan. She had money of theirs in her possession and her attorney induced her to take that $5,000 subordinate interest. In pursuance of these…
2Cases cited9 opinions
- Anderson v. FosterSupreme Court of Georgia · 1900
- Loring v. Salisbury MillsMassachusetts Supreme Judicial Court · 1878
- Cone v. IvinsonWyoming Supreme Court · 1893
- Safe Deposit & Trust Co. v. CahnCourt of Appeals of Maryland · 1906
- Clark v. WhitakerSupreme Court of Connecticut · 1848
4 more not listed; retrieve them via the Exa API.
3Cited by13 opinions
- Stark v. National City BankNew York Court of Appeals · 1938
- Kelly v. Central Hanover Bank & Trust Co.District Court, S.D. New York · 1935
- In re the Judicial Settlement of the Account of Proceedings of Bankers Trust Co.New York Surrogate's Court · 1922
- London v. GoodmanNew York Supreme Court · 1957
- Alexander v. WindsorMontana Supreme Court · 1938
8 more not listed; retrieve them via the Exa API.