Wearse v. Peirce
Wearse v. Peirce
Opinion of the Court
delivered the opinion of the Court. The action of mortgagee against mortgagor, by the laws of this Commonwealth, is substantially a statute proceeding; it is a remedy at once furnished, regulated and limited by statute. This is significantly illustrated by the case before us, which presents the legal anomaly of a real action brought by an administrator. This proceeding could only be legalized by the provisions of the statute. These however are founded upon and justified by a course of legal policy, designed to make all real estate and all rights to land, liable to the payment of the debts of the owner, and that as well by legal processes affecting it in his lifetime, as after his decease. To many purposes, a mortgage, though a conveyance of real estate, is a security for the pay
This action therefore may be considered as a special real action given by the statute to the mortgagee, in his lifetime, and to his executor or administrator after his decease, to enable him, in case the debt secured by it is not paid, to have the actual possession of the estate ; with a double view, first, that he may have the pernancy of the profits, in satisfaction, pro tanto, of the interest and principal due on the debt, and secondly, which may be regarded as the main purpose, that the commencement of a term of three years may be fixed, the lapse of which, if the debt remains unpaid so long, shall foreclose the mortgage and bar the right of redemption. But both these purposes are means, to an ultimate end, that of insuring the payment of the debt secured. If therefore the debt is fully paid or otherwise discharged, the ultimate purpose of the statute is accomplished.
By the terms of the statute, the Court are required, to rei.der a conditional judgment, to wit, that the plaintiff shall have the final process of the Court, to put him into the actual possession of the mortgaged estate, unless the debt, or the balance due upon it, is paid within sixty days from the time of the rendition of such judgment. If the money is so paid, the process is at an end, the purpose of the statute is accomplished, and the estate stands discharged of the incumbrance. These provisions of the statute involve the necessity, not merely of inquiring into the title put in issue by the pleadings, in this form of action, but also the existence and amount of the debt, claimed to be due, in order to the entry of the conditional judgment. If it appears that the debt has been wholly paid, nothing remains due, no conditional judgment can be entered, the statute authorizes no other judgment, and it follows, as a necessary legal consequence, that the plaintiff can have no judgment, and the defence prevails.
We are then to apply these rules and principles to the present case. Supposing the title to be well proved by the plaintiff as the administrator of the mortgagee, then the Court
But the demandant contended, that if the notes were given by the defendant with a view to secure property to his wife, to delay and defraud his own creditors, he was estopped from showing a want of consideration by way of defence to the action. But we think the judge was correct in directing the jury, that if the notes were made without consideration, it might be shown in defence, and that it was not competent for the demandant to rebut this defence by showing that the notes were also fraudulent as given to delay creditors, or to avail himself of incidents coming out in the general inquiry, to argue that fact to the jury. The general rule of policy is, in pari delicto potior est conditio defendentis. If there was an intent to defraud creditors, it was an intent common to both parties,
Reference
- Full Case Name
- Wonder Wearse, Administrator, versus Noah Peirce
- Status
- Published