Benedict v. Gilman & Couch
New York Court of Chancery
Previous to 1829, B- Reynolds had given two several mortgages upon a lot of land in Plattsburgh, of which land he was the owner in fee. In February, 1829, the defendant Gilman recovered a judgment against Reynolds, in the supreme court. And in May thereafter the defendant Couch recovered a judgment against him in the Clinton common pleas; both of which judgments were liens upon the mortgaged premises at the time of the statute foreclosure hereafter mentioned.
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Previous to 1829, B- Reynolds had given two several mortgages upon a lot of land in Plattsburgh, of which land he was the owner in fee. In February, 1829, the defendant Gilman recovered a judgment against Reynolds, in the supreme court. And in May thereafter the defendant Couch recovered a judgment against him in the Clinton common pleas; both of which judgments were liens upon the mortgaged premises at the time of the statute foreclosure hereafter mentioned. J.- Palmer afterwards became the owner of the two mortgages, by as signment, and in April, 1830, he proceeded to foreclose the same, by…
1Opinion of the Court
The Chancellor.
it was insisted by the defendant’s counsel, on the argument, that the agreement between Palmer and the complainant was calculated and intended to prevent competition at the sale, and was therefore a fraud upon the mortgagor and his creditors. As it is admitted that Reynolds was notoriously insolvent at the time of the foreclosure, and that the whole value of the premises did not exceed the *61mortgage debts and tlie costs of foreclosure, I cannot perceive how any one could have been injxired by that arrangement. It is sufficient, however, to say that such an agreement is not…
2Cited by50 opinions
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- Johns v. WilsonSupreme Court of the United States · 1901
- Madison Avenue Baptist Church v. Baptist Church in Oliver StreetNew York Court of Appeals · 1878
- Mickles v. . Dillaye and OthersNew York Court of Appeals · 1858
- Moulton v. . CornishNew York Court of Appeals · 1893
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