Philadelphia Reports (Volume 16) (Paperback)

This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1887. Excerpt: ... Supreme Court of PennBgloania. Leg. Int., Vol. 10, p. 51. Good et al. vs. Schoener. Where land encumbered by three liens--two judgments and a mortgage--in sold on the latter judgment and bought by the judgment creditor, mid, before the sale, the judgment creditor enters into a contract in writing that he will immediately convey back a, Miii upon the payment of the judgment, which conveyance lie makes, the mortgage is not divested." Error to tlie Court of Common Pleas of Columbia County. Opinion delivered by Black, J.--If the mortgaged premises bad been sold by the sheriff to a stranger, lie could have held them free and clear of all the lien. If the mortgagee had been too far down on the list to he entitled to any part of the proceeds, his debt would have been irrevocably lost, unless he had a personal obligation for it. If the mortgagor had bougbt it from the sheriff's vendee by a subsequent contract, there being no actual satisfaction of the mortgage, it would have become necessary to determine whether a mortgage, like a deed, operates on an interest afterward accruing, and whether a judicial sale totally extinguishes a mortgage or only removes the lien out of the way of a third person. But the land was knocked down t' a trustee of the mortgagor, who held it for him until he complied with certain term , and then executed the trust by a legal conveyance. The equitable estate was never out of the mortgagor. INDEX. ACCORD AND SATISFACTION." If (lie amount of n rent ayulle in coin of a specified weight anil fineness be paid to the landlord in currency, with his consent, it is an accord and satisfac-tion. Estate oj Morris E. Affiick, 210. ACCOUNT STATED. See Debtor And Creditor, 3. ACCOUNTS. See Executors And Administrators, 4, 5. Guardian And Ward, 3. Trusts...