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57 Sickels 10

5 N.E 773

Ferris v. . Spooner, Etc.

New York Court of Appeals

Decided March 23, 1886

New York Court of Appeals · decided 1886-03-23

This action was for the foreclosure of a bond and mortgage, executed by one Coggeshall to plaintiff on the 15th of July, 1882. The bond purports to have been given as security for the payment of $27,000 with interest on demand, but it appeared before the trial court that the obligor was not in fact indebted to the plaintiff and received no money from him at the time of its execution.

Relies on Gillett v. Balcom

Good law ✅— No negative treatment on recordhow we know

Decided 1886-03-23

How this case has been cited

Cited by 8 later decisions — most recently January 1923

2 federal appellate · 6 state decisions

4018861890190019101920decided

Later decisions citing this case, by decade. The current decade is in progress, and our corpus holds fewer opinions from the most recent years, so the latest bars are undercounted — not a real decline.

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Danforth, J.

¶1 The appeal to this court is by Spooner as assignee. In substance he contends that the action is premature—that he might within the ninety days limitation go on with the contract, and at any rate that the plaintiff could not have payment or foreclosure until it expired. - But the plaintiff’s agreement to advance money and his promise to delay foreclosure were both dependent upon the undertaking of Coggeshall to erect the houses; when,- therefore, he repudiated the further performance of the contract, the plaintiff was discharged from all obligation to do either and set at liberty to enforce ■ his securities for the money already advanced. (Hochster v. De La Tour, 2 E. & B. 678.) A previous demand of payment was not essential to a cause of action. (Gillett v. Balcolm, 6 Barb. 370.) The appellant’s position is no better than that of his assignor, and the other points made by him seem to us unimportant.

¶2 We think the judgment was right and should be affirmed.

All concur.

¶3 Judgment affirmed.

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