New York Egg Auction, Inc. v. Schechter

Appellate Division of the Supreme Court of New York

New York Egg Auction, Inc. v. Schechter

277 A.D.2d 1041

CourtAppellate Division of the Supreme Court of the State of New York

DecidedNovember 6, 1950

StatusPublished

This text of 277 A.D.2d 1041 (New York Egg Auction, Inc. v. Schechter) is published on Counsel Stack Legal Research, covering Appellate Division of the Supreme Court of the State of New York primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

New York Egg Auction, Inc. v. Schechter, 277 A.D.2d 1041 (N.Y. Ct. App. 1950).

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Opinion

In an action to foreclose a mortgage on real property, order denying motion to vacate order opening default and vacating judgment of foreclosure reversed on the law and the facts, with $10 costs and disbursements, the motion granted, the opening of the default vacated, and the judgment of foreclosure reinstated, with $10 costs. On ■ the undisputed showing it appears without question that there was no payment by the debtor of the amount secured by the bond and mortgage. Section 60 of the Bankruptcy Act (U. S. Code, tit. 11, § 96) cannot be invoked as a defense with respect to the security of the mortgage for future purchases or advances, as even a bona fide purchaser for value would have been put on notice by the provision of the recorded mortgage that it applied to future purchases. Carswell, Acting. P. J., Johnston, Adel, Wenzel and MacCrate, JJ., concur. [See post, p. 1053.]

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In an action to foreclose a mortgage on real property, order denying motion to vacate order opening default and vacating judgment of foreclosure reversed on the law and the facts, with $10 costs and disbursements, the motion granted, the opening of the default vacated, and the judgment of foreclosure reinstated, with $10 costs. On ■ the undisputed showing it appears without question that there was no payment by the debtor of the amount secured by the bond and mortgage. Section 60 of the Bankruptcy Act (U. S. Code, tit. 11, § 96) cannot be invoked as a defense with respect to the security of the mortgage for future purchases or advances, as even a bona fide purchaser for value would have been put on notice by the provision of the recorded mortgage that it applied to future purchases. Carswell, Acting. P. J., Johnston, Adel, Wenzel and MacCrate, JJ., concur. [See post, p. 1053.]

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Bluebook (online)

277 A.D.2d 1041, Counsel Stack Legal Research, https://law.counselstack.com/opinion/new-york-egg-auction-inc-v-schechter-nyappdiv-1950.