Talmage v. . Pell
New York Court of Appeals
Appeal from the general term of the Supreme Court, in the first district, where a decree had been made in favor of the plaintiff in the first cause, in a foreclosure-suit.
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Appeal from the general term of the Supreme Court, in the first district, where a decree had been made in favor of the plaintiff in the first cause, in a foreclosure-suit. The first of these causes was a suit in equity, commenced in the late court of chancery, by Joseph D. Beers, president of the North American Trust and Banking company, against Ferris Pell and Mary Anna, his wife, and her trustee, for the foreclosure of a mortgage for $15,000, dated the 20th December 1838. Pending the suit, Beers resigned his office, and Thomas G-. Talmage, his successor, was substituted as plaintiff.…
1Opinion of the Court
* Gardiner, J.
The defendants, Pell and wife, object to the validity of the bond and mortgage in controversy. 1. Upon the ground of usury: 2. Upon that of fraud on the part of the association. There is no foundation for the first objection, in the pleadings; nor for the second, in the proofs.
The case shows that Pell intended to exchange, and did exchange, his bond and mortgage for the stock of the company; that, when issued to him, it was worth ninety-eight cents upon the dollar; that he has disposed of it according to the purpose stated by him in his answer, and. has received and appropriated…
2Cases cited1 opinion
- Gillet v. . MoodyNew York Court of Appeals · 1850
3Cited by24 opinions
- National Bank v. JohnsonSupreme Court of the United States · 1881
- County of Divide v. BairdNorth Dakota Supreme Court · 1926
- Pape v. Capitol BankSupreme Court of Kansas · 1878
- Holmes & Griggs Manufacturing Co. v. Holmes & Wessell Metal Co.New York Court of Appeals · 1891
- Pittsburg Carbon Co. v. McMillinNew York Court of Appeals · 1890
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