Jackson, ex rel. Lockwood v. Turner
This text of 7 Wend. 458 (Jackson, ex rel. Lockwood v. Turner) is published on Counsel Stack Legal Research, covering New York Supreme Court primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Opinion
By the Court,
The mortgage in this case, although executed to secure the delivery of specific articles, is equivalent to a mortgage to secure the payment of money. The value of the salt was liquidated, the mortgagee being authorised to retain $500 out of the proceeds of the sale of the mortgaged premises; and therefore, on default being made in complying with the condition of the mortgage, the mortgagee had the right to resort to a statute foreclosure. The foreclosure is valid, and the plaintiff is entitled to judgment.
Judgment for plaintiff.
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