Fredonia National Bank v. Borden
Fredonia National Bank v. Borden
Opinion of the Court
Opinion by
The appellant having purchased the timber on three hundred acres of land included in several mortgages on which suits were brought, was allowed “ to appear and defend in said suits as a terre tenant ” of the timber right and estate he acquired by his purchase. In this suit, and in No. 7, October Term, 1894, lie filed an affidavit of defence in which he averred that the timber was sold to him with the knowledge and consent of the plaintiff and that the latter received the entire proceeds of the sale of it. In No. 8, October Term, 1894, he filed an affidavit in which he stated that he was informed, and that he believed and expected to be able to prove on the trial of the case, that one of the mortgagees assented to and advised the sale of the timber to him and received the benefit of it in the application of its proceeds to the extinguishment of the mortgage debts upon the premises, and that he consented to such application. Inasmuch, however, as it appears to be conceded that the Fredonia National Bank is the real plaintiff in all the suits and was the owner of the mortgages when the timber was sold, there is but one question for our determination, and that is, whether the bank, having consented to and received the proceeds of the sale of the timber, can now appropriate it on either of the mortgages in suit. The learned court below thought it could do so, and accordingly entered a judgment in each case in favor of the plaintiff, for want of a sufficient affidavit of defence. In justice to that court it ought to be stated in this connection that the judgments were entered before the decision of this court in Pratt et al. to use etc. v. Waterhouse et al., 158 Pa. 45, was announced. The use plaintiff in that case is the use plaintiff in the cases we are considering, and the decision in the former was based on the facts relied on as a defeuce to the latter. In the case referred to we decided that
The judgment in No. 6 is reversed and a procedendo is awarded.
Judgments in Nos. 7 and 8, Oct. T., 1894, reversed for reasons given above.
Reference
- Full Case Name
- Fredonia National Bank, Assignee of J. A. Waterhouse v. Andrew Borden T. D. Collins's Appeal
- Cited By
- 1 case
- Status
- Published
- Syllabus
- Mortgage—Affidavit of defence—Terre tenant of timber. An affidavit of defence to a scire facias sur mortgage by a terre tenant of timber is sufficient which avers that at the time the terre tenant bought the timber the owner of the land obtained the consent of the plaintiff to make the sale, and the purchase money paid by the terre tenant to the owner was paid over to and received by plaintiff with full knowledge that it was the proceeds of the sale of said timber.