28 N.Y.S. 976 | N.Y. Sup. Ct. | 1894
Lead Opinion
The only question necessary to discuss upon this appeal is whether the cause of action upon the mortgage in suit is barred by the statute of limitations. The following facts appear from undisputed evidence, or were found by the trial court: Prior to the 3d day of March, 1856, Squire Wood, the husband of the appellant, was indebted to the respondents in the sum of $5,000. To secure payment of a part of such debt, Cyrus M. Ferris, a brother-in-law of Wood, on the date aforesaid, executed and delivered to the respondents his bond conditioned to pay $750 three years after date, with interest, and, as collateral security for the payment of said bond, the mortgage in suit was executed by the appellant, who was the owner of the mortgaged property. In 1872, Ferris removed
The only payments ever made upon the bond and mortgage were made by Squire Wood. While the debt secured was originally his,
Dissenting Opinion
The coverture of Zillah Wood at the time she executed the mortgage is no defense. In equity, a married woman is regarded as a feme sole, and has power to dispose of her real estate, and incidentally to charge it for the debts of another. That has always been the rule in Hew York. The bond was not cut off by the statute of limitations, and consequently the collateral mortgage remained a valid lien. Judgment affirmed, with costs.