North Side Bank v. Queens Home Realty & Construction Co.
Appellate Division of the Supreme Court of the State of New York
Appeal by the defendant, Alexander S. Burns, from part of an order of the Supreme Court, made at the Queens County Special Term and entered in the office of the clerk of the county of Queens on the 27th day of January, 1914, directing the disposition of surplus moneys in a foreclosure action.
1Opinion of the Court
Putnam, J.:
The Queens Home Realty and Construction Company on June 10, 1908, gave a first mortgage to the Broadway-Flushing Development Company, which was foreclosed in this suit. On June 10, 1909, it gave a second mortgage for $10,000 to Mr. Burns, on which $7,812.50 remains due. On October 15, 1909, Peace Brothers took over the first mortgage with an unrecorded guaranty of its payment from the Rickert-Finlay Company. Peace Brothers then assigned this mortgage as collateral security to the plaintiff.
Thereafter the Rickert-Finlay Company, as guarantors, *157made two interest payments on this…
2Cases cited3 opinions
- Morgan's Louisiana & Texas Railroad & Steamship Co. v. Texas Central Railway Co.Supreme Court of the United States · 1890
- Union Trust Co. v. Monticello & Port Jervis Railway Co.New York Court of Appeals · 1875
- Knickerbocker Trust Co. v. Oneonta, Cooperstown & Richfield Springs Railway Co.Appellate Division of the Supreme Court of the State of New York · 1910