Ayres v. Wattson
Supreme Court of Pennsylvania
Appeal from the decree of the Court of Common Pleas of Philadelphia : In Equity. The bill was filed by William Ayres against Thomas B. Watt-son and Edward L. Clark, trading as Thomas Wattson & Sons.
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Appeal from the decree of the Court of Common Pleas of Philadelphia : In Equity. The bill was filed by William Ayres against Thomas B. Watt-son and Edward L. Clark, trading as Thomas Wattson & Sons. It sets out that about June 2d 1859 George R. Ayres made two promissory notes payable in four months, one for $1600 and the other for $1200, and delivered them to the defendants, who, on the 21st of the same month, were holders of them; on that day the plaintiff executed a mortgage to the defendants reciting that they were holders of those notes, and that to secure their payment be conveyed a…
1Opinion of the Court
The opinion of the court was delivered, by
Sharswood, J.
The mortgage by the appellant to the defendant, Thomas B. Wattson, was “ for the better securing the payment” of two promissory notes, drawn by George R. Ayres to his own order, to the holders thereof who were the firm of Thomas Wattson & Sons, of which the mortgagee was a member. The condition of the mortgage was, that if the said George R. Ayres should pay the said notes “ on the days they respectively mature and become due or payable,” the mortgage and the estate thereby granted should cease and determine. The answer admits that when…
2Cases cited1 opinion
- Gilkeson v. SnyderSupreme Court of Pennsylvania · 1844
3Cited by13 opinions
- Jennings, Friedman & Stevens ex rel. Mercantile Trust Co. v. LoefflerSupreme Court of Pennsylvania · 1898
- McCahan's EstateSupreme Court of Pennsylvania · 1933
- Sensinger v. BoyerSupreme Court of Pennsylvania · 1893
- Stofflett v. KressSupreme Court of Pennsylvania · 1941
- Work v. PrallSuperior Court of Pennsylvania · 1904
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