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Home > History and Archaeology > History > Reports of Cases Heard and Determined in the Supreme Court of the State of New York (Volume 50)
Reports of Cases Heard and Determined in the Supreme Court of the State of New York (Volume 50)

Reports of Cases Heard and Determined in the Supreme Court of the State of New York (Volume 50)


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This historic book may have numerous typos, missing text or index. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. 1887. Not illustrated. Excerpt: ... DEBTOR AND CREDITOR--Continued. Paw. On December 3, 1883, Clark & Kline made a general assignment for the benefit of their creditors, in which a preference was specified for the McDonald note. Thereafter, and on March 6, 1884, the assignees agreed to sell to the defendant Fales, the real estate of Clark & Kline incumbered by the mortgages above mentioned and others, for the price of $35,000, upon the further agreement that the assignees should, from the said $35,000, pay the two mortgages held by the plaintiff. The assignees having paid the debt secured by the $10,000 mortgage, and the note indorsed by McDonald, claimed by the plaintiff to be secured by the mortgage upon the brewery, but they failing to pay a $4,000 note, also secured thereby, the plaintiff brought this action to foreclose it. Held, that a claim, made by the defendant Fales, that the $5,000 paid upon the McDonald note should be applied in reduction of the $6,000 limit filed by the brewery mortgage could not be sustained. That the plaintiff had the right to use thn two securities to his own best advantage, and that he could not be compelled to foreclose his mortgage until he had realized all he could upon the $5,000 note, under the preference given it in the assignment, so as to bring the balance secured by the brewery mortgage within the $6,000 limit fixed by it. Morris V. Fales 393 2. Action against a bank--it cannot be compelled to pay money into court to abide lite event of the action, on tlie ground that it is insolvent. In this action, brought by the plaintiff as receiver of the property and effects of one Clark, to recover from the defendant, The Metropolitan Bank, $1,100, being a portion of $5,000 alleged to be in the possession of the bank, the bank denied that the said sum, or any part ...


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Product Details
  • ISBN-13: 9781153837255
  • Publisher: General Books
  • Publisher Imprint: General Books
  • Height: 246 mm
  • No of Pages: 342
  • Spine Width: 18 mm
  • Width: 189 mm
  • ISBN-10: 1153837250
  • Publisher Date: 15 Jan 2012
  • Binding: Paperback
  • Language: English
  • Returnable: N
  • Weight: 662 gr

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Reports of Cases Heard and Determined in the Supreme Court of the State of New York (Volume 50)
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