Swords v. Blake
New York Court of Chancery
Bill to foreclose two mortgages made by the defendants, Anson Blake and wife, to the Washington Insurance Company of the city of New-York. One of the mortgages was for six thousand dollars and the other for ten thousand dollars—both of them on property in the twelfth ward of the city of New York.
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Bill to foreclose two mortgages made by the defendants, Anson Blake and wife, to the Washington Insurance Company of the city of New-York. One of the mortgages was for six thousand dollars and the other for ten thousand dollars—both of them on property in the twelfth ward of the city of New York. The first of the mortgages was paid down to three thousand five hundred dollars on a part of the mortgaged premises being released. . On the fifteenth of September, one thousand eight hundred and thirty-five, the premises embraced by the first mortgage (except such part as had been released) were…
1Opinion of the Court
The Vice-Chancellor :
remained the holder of the policies of insurance, when the losses under them by the fire occurred, there can be no doubt that he would have had a right to set off the amount of those losses against his bond debts to the company; and that right would not have been taken away by the appointment of receivers or trustees of the company’s effects. One branch of the chancellor’s decision in Holbrook and Femes’ case, (6 Paige’s C. R. 220,) is to that effect. But, at the time of the fire and also at the time of the appointment of receivers, by which all the property and effects…
2Cases cited1 opinion
- Chance v. Isaacs & SmythNew York Court of Chancery · 1836
3Cited by1 opinion
- Pardo v. OsgoodThe Superior Court of New York City · 1868