Wolas v. Russo

Plaintiff and defendant executed a contract for the sale by defendant to the plaintiff of certain real estate then incumbered by the lien of two blanket mortgages covering a tract of which the contract premises were a part. The contract provided that the premises were to be conveyed free and clear of all incumbrances. Upon the execution of the contract, the vendee deposited $1,000.

At the time and place fixed for closing, the vendor appeared with a deed to the premises, and with a release from the lien of one of the blanket mortgages. There was also present a representative of the mortgagee,…