Hay v. Node
Supreme Court of Pennsylvania
Scire Facias on mortgage. Plea payment. The facts on the evidence appeared as follow : Thomas Dixey and wife, on the 15th November 1785, conveyed a lot of ground in the city of Philadelphia to Richard Carleton in fee, under a yearly rent charge of 32 Spanish milled dollars.
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Scire Facias on mortgage. Plea payment. The facts on the evidence appeared as follow : Thomas Dixey and wife, on the 15th November 1785, conveyed a lot of ground in the city of Philadelphia to Richard Carleton in fee, under a yearly rent charge of 32 Spanish milled dollars. Carleton on the 3d June 1786, conveyed to Node the defendent; who together with his wife, on the 6th June following, mortgaged the premises to Merrian, to secure the payment of 150i. in one year, with interest; the proviso therein, specified, that if the said Sebastian Node or Andrew Kessler paid the said 150f. and…
1Opinion of the Court
By the court.
Every assignment is necessarily preceded by payment, or some species of satisfaction to the assignor. If a stranger takes an assignment of a mortgage, and pays his money, he certainly wrould recover thereon. The effect of an assignment not only divests the party making it of his right of recovery, but vests this right in he assignee, and in this particular operates beyond a release. The *536ground on which a release to one obligor, on a joint and several bond, operates as a discharge of both obligors, is, that the joint remedy being gone, the several one is gone also. 2 Salk. 574.…