Hulbert v. . Clark
New York Court of Appeals
Appeal from judgment of the General Term of the Supreme Court in the fifth judicial department, entered upon an order made October 23, 1890, which modified,, and affirmed as modified, a judgment in favor of plaintiffs, entered upon the. report of a referee.
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Appeal from judgment of the General Term of the Supreme Court in the fifth judicial department, entered upon an order made October 23, 1890, which modified,, and affirmed as modified, a judgment in favor of plaintiffs, entered upon the. report of a referee. This action was commenced in July, 1887, to foreclose a mortgage executed and delivered by the defendants to Reuben D. Hulbert, the plaintiffs’ intestate, on the 8th day of March, 1867. The mortgage, as stated therein, was given to secure the payment of eight promissory notes of $500 each held by Hulbert, all bearing the same date as the…
1Opinion of the CourtEarl, J.
The sole question for our determination is whether the' mortgage continued to be a subsisting lien and could be foreclosed after an action at law upon the notes was barred by the Statute of Limitations. This is an interesting question which has given rise to considerable discussion in the courts of this country and England. We do not, however, deem it difficult of solution.
The Statute of Limitations does not after the prescribed period destroy, discharge or pay the debt, but it simply bars a remedy thereon. The debt and the obligation to pay the same remain, and the arbitrary bar of tile…
2Cases cited15 opinions
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- Lewis v. HawkinsSupreme Court of the United States · 1875
- Borst v. . CoreyNew York Court of Appeals · 1857
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