Elliott v. Wood
New York Supreme Court
THIS is a motion by the defendants, Woods, for a new trial, under' section 268, subdivision 1 of the Code, upon a case and exceptions to review a decision at special term, directing an account.
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THIS is a motion by the defendants, Woods, for a new trial, under' section 268, subdivision 1 of the Code, upon a case and exceptions to review a decision at special term, directing an account. On the 6th of June, 1857, John E. Gowan, Eranklin Copeland, George R. Field and the plaintiff, Andrew C. Elliott, then owners of the guano island of Sombrero, in the Carribbean Sea, made a written agreement with the defendant, Ross W. Wood, and one Alexander H. Grant, partners as Wood & Grant, to convey to the last named parties one half of said island for the consideration of §30,000; said Wood &…
1Opinion of the Court
By the Court, Clerke, J.
As to what constitutes a mortgage, courts of equity hold that the particular 'form or words of the conveyance are unimportant; and it is laid down, as a general rule, that wherever a conveyance transferring an estate is originally intended between the parties as a security for money, or for any other incumbrance, whether this intention appears from the same instrument or any other, it is always considered in equity as a mortgage, and consequently is redeemable upon the performance of the conditions or stipulations contained in it. In the present case an absolute…
2Cited by7 opinions
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- Butterfield v. FarnhamSupreme Court of Minnesota · 1872
- Webb v. HaefferCourt of Appeals of Maryland · 1880
- Sharpe v. TatnallCourt of Chancery of Delaware · 1880
- Edgell v. HamCourt of Appeals for the Fifth Circuit · 1899
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