Commonwealth v. DuPont Land Co.
This text of 98 A. 1047 (Commonwealth v. DuPont Land Co.) is published on Counsel Stack Legal Research, covering Supreme Court of Pennsylvania primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Opinion
What the Commonwealth would collect from the Dupont Land Company is a tax on mortgages and accompanying bonds given by the company’s grantor to various mortgagees. In each of the deeds to it for the lands so encumbered by him there is a stipulation that it “assumes and agrees to' pay” the principal and interest of the mortgage indebtedness. The learned president judge of the court below clearly demonstrates that this stipulation in the deeds accepted by the company did not make the mortgages for which the respective properties were encumbered indebtedness of the company within the contemplation of the Act of June 30,1885, P. L. 193, and the judgment is affirmed on the opinion directing it to be entered.
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Cite This Page — Counsel Stack
98 A. 1047, 254 Pa. 446, 1916 Pa. LEXIS 750, Counsel Stack Legal Research, https://law.counselstack.com/opinion/commonwealth-v-dupont-land-co-pa-1916.