25 N.J. Eq. 390 | New York Court of Chancery | 1874
On the 20th of February, 1871, Jane C. Lum, wife of Lewis P. Lum, was the owner in fee of a lot of land in the •city of Elizabeth. On that day an agreement in writing, purporting to be between her husband and the complainant, was executed by her and her husband, under their hands and seals, for the conveyance by her husband, by deed to be executed by him and her, of the lot above mentioned to the complainant, free from all encumbrances, for the consideration of a certain bay horse, harness and phseton. The agreement also provided for the erection, by the husband for the complainant, of a building upon the property, according to a written agreement of the above date, made by and between them. The horse, harness and phseton were duly delivered. The house was built on the premises by the husband for the complain.ant, under the last mentioned agreement. The price stipulated to be paid for it was $3800. Of this amount the complainant paid, as appears by the receipts of the husband endorsed on the building contract, $1300. For the rest of the $3800 a mortgage of $2500 was put upon the premises by Lum and his wife, the loan having been negotiated by the complainant,