109 N.Y.S. 482 | N.Y. App. Div. | 1908
The action is to .foreclose a mortgage dated the 1st of July, 1892, and payable on the 1st of July, 1897, executed by' the defendant Benedict A. Klein upon a leasehold of real property. The complaint alleges .that the indenture of lease and leasehold premises were by various mesne assignments assigned to one Richard E. Carpenter who died possessed of the said indenture of lease on or about November 6, 1906, leaving a last will and testament duly admitted to probate by which this leasehold was devised and bequeathed to the defendant -Louise H. Carpenter, who was also appointed sole executrix of the said will and letters were issued to her. It is "not alleged that Richard E. Carpenter or the defendant Louise H. Carpenter assumed the payment of the amount secure'd by this mortgage or the interest thereon. The complaint further alleges that the defendants have failed to .comply with the conditions of the bond and mortgage by omitting to pay the sum of $12,500, and that there is now due the plaintiff upon the said bond and mortgage that sum with interest from the 1st of .July, 1907, and that each and all of the defendants have or claim to have some interest in or lien upon the said mortgaged premises which accrued subsequently to the lien of the said mortgage. The defendant Louise H. Carpenter, without denying any of the allegations of the complaint, alleges that on or about the 2d of July, 1907, in consideration of the sum of $312.50 paid as interest on the mortgage described in the complaint and in addition thereto the sum of $35 then or thereabouts paid by the answering defendant to the plaintiff, the plaintiff agreed to extend the mortgage described in the complaint to May 1, 1911. This answer the court below has held to be frivolous and directed judgment for the plaintiff. ■ -
It is quite evident that a valid agreement based upon a sufficient consideration extending the time of the payment of this mortgage would be a defense to the action, to foreclose the mortgage commenced before, the time to which the payment of the mortgage debt has been , extended. The plaintiff relied on Olmstead v. Latimer (158 N. Y. 313) as an .authority to sustain the order appealed, from. The agreement in that case recited no consideration and it was held that an agreement to-extend the time without other con-' sideration than a mere promise was not enforcible for want of con
I think, therefore, the order appealed from must be reversed, with ten dollars costs and disbursements, and motion for judgment upon the pleadings as frivolous denied, with ten dollars costs.
Laúghlin, Clabke, Houghton and Scott, JJ., concurred.
Order reversed, with ten dollars costs and disbursements, and motion denied, with ten dollars costs.