The real purpose of the assignment of the mortgage of Bushrod Buck, made by Shaw to the defendant, on the 29th of September 1843, is quite obvious; and the instrument ought to be so construed as to secure that object, if it may be, consistently with the rules of law. The equity
The debt to the defendant remaining unpaid on the 29th of September 1843, Shaw assigned the mortgage to him, upon certain stipulations therein contained. The object seems to have been, that the defendant should receive from Shaw a transfer of the mortgage, and thereafter rely solely upon that, and make no claim on Shaw personally for the payment of the note signed by him. All this is obviously enough expressed in the assignment. And, in point of fact, the defendant at once entered into peaceable possession, for foreclosure of the mortgage, under his assignment. But it is now insisted, that whatever may have been the intention of the parties, they have so unskilfully and irregularly executed this instrument of assignment, as to have defeated that intention ; and that the defendant, while he supposed he was substituting the security of the mortgage on real estate of Buck, for the personal security of Shaw, has in fact discharged both, and is now left without security for his debt of $4000. That the defendant intended no such result, as we have already stated, is quite obvious. Is such the legal effect of the assignment?
It is contended that it is so, and that the mortgage to Shaw is fully discharge^, because, from the very terms of the mortgage, it was to be void, “ if said Buck shall save said Shaw from any trouble, cost or expense, by reason of signing said note ” as surety; and it is alleged that Shaw has been saved from all trouble, cost and expense therefor, and that, by force
The result, therefore, is, that the plaintiff will be entitled to redeem the premises upon paying the amount due to the defendant upon the note described in the mortgage assigned to him by Shaw.
