Manufacturers National Bank v. Toole

Appellate Division of the Supreme Court of New York

Manufacturers National Bank v. Toole

242 A.D. 893

Appellate Division of the Supreme Court of the State of New York·Decided November 15, 1934·Published·Cited by 3 cases

Opinion

Judgment and order affirmed, with costs. Hill, P. J., McNamee, Crapser and Bliss, JJ., concur; Heffernan, J., dissents. The complaint alleged a cause of action on a promissory note. The answer pleaded section 1077-b of the Civil Practice Act, the moratorium statute. Simultaneously with the giving of the note defendants gave a real estate mortgage and a chattel mortgage in separate documents. The real estate mortgage not being the “ sole ” security for the debt, the statute did not apply. [152 Mise. 724.]

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Judgment and order affirmed, with costs. Hill, P. J., McNamee, Crapser and Bliss, JJ., concur; Heffernan, J., dissents. The complaint alleged a cause of action on a promissory note. The answer pleaded section 1077-b of the Civil Practice Act, the moratorium statute. Simultaneously with the giving of the note defendants gave a real estate mortgage and a chattel mortgage in separate documents. The real estate mortgage not being the “ sole ” security for the debt, the statute did not apply. [152 Mise. 724.]

Manufacturers National Bank v. Toole, 242 A.D. 893 (N.Y. Ct. App. 1934).

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Opinion

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