Swett v. Sherman
Massachusetts Supreme Judicial Court
Bill in equity to restrain Edward F. Sherman, Nathan Crosby and William H. Anderson, executors of the will of Thomas Nesmith, from prosecuting against the plaintiff an action of contract on a promissory note for $2500 signed by him, payable to the Lowell Five Cents Savings Bank or order, and by .them indorsed to the defendants.
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Bill in equity to restrain Edward F. Sherman, Nathan Crosby and William H. Anderson, executors of the will of Thomas Nesmith, from prosecuting against the plaintiff an action of contract on a promissory note for $2500 signed by him, payable to the Lowell Five Cents Savings Bank or order, and by .them indorsed to the defendants. The case, as it appeared from the pleadings and a statement of facts, on which it was reserved by IVeils, J., for the consideration of the full court, was as follows : The plaintiff in 1869 gave the note in question to the Lowell Five Cents Savings Bank, and at the…
1Opinion of the CourtMorton, J.
It is generally true that the holder of a mortgage debt, there being no intervening equities, may resort to the personal liability of the mortgagor instead of the land, to collect his debt. Johnson v. Stevens, 7 Cush. 431. Thus in this case the Lowell Five Cents Savings Bank, after the note secured by their mortgage became due, undoubtedly might have sued the.mortgagor upon the note which accompanied the mortgage, and compelled him to pay the debt. But such compulsory payment by the mortgagor would not, under the circumstances of this case, be regarded in equity as extinguishing the mortgage.…
2Cases cited1 opinion
- Wall v. MasonMassachusetts Supreme Judicial Court · 1869
3Cited by5 opinions
- Pratt v. BuckleyMassachusetts Supreme Judicial Court · 1900
- Tucker v. CrowleyMassachusetts Supreme Judicial Court · 1879
- Everett v. GatelyMassachusetts Supreme Judicial Court · 1903
- Sherwood v. WarrenMassachusetts Supreme Judicial Court · 1926
- MorrisMassachusetts Land Court · 1901