Case ID: ny_217/html/0656-01.html
Source: Caselaw Access Project
Author: {"author": "", "license": "Public Domain", "url": "https://static.case.law/"}
Date Created: 2024-08-24T03:29:51.129683

Martin M. Stone, Appellant, v. United States Title Guaranty and Indemnity Company, Respondent.
    
      Stone v. U. S. Title Guaranty & Indemnity Co., 159 App. Div. 679, affirmed.
    (Submitted February 3, 1916;
    decided February 22, 1916.)
    Appeal from a judgment, entered December 31, 1913, upon an order of the Appellate Division of the Supreme Court in the first judicial department, reversing a judgment in favor of plaintiff entered upon a verdict and directing a dismissal of the complaint. The complaint alleges that plaintiff and defendant entered into a contract whereby it was agreed between them that defendant would sell to plaintiff and plaintiff would purchase from defendant the junior interest of $12,500 in a mortgage affecting premises in the city of New York, at the purchase price of $10,300. The mortgage was made to secure the principal sum of $75,000, the senior interest being $62,500 and the junior interest $12,500. The complaint then alleges, that plaintiff performed in full on his part and repeatedly offered to receive the assignment of the junior interest in said mortgage; that on January 3, 1910, plaintiff duly tendered to defendant the agreed sum of $10,300 for the purchase of said junior interest of $12,500 in the mortgage and requested defendant to deliver an assignment of said junior interest, but that defendant refused. The answer is a denial of all of the material allegations of the complaint.
    
      Aaron W. Levy and J. Maurice Wormser for appellant.
    
      Benjamin Reass, Hugo Hirsh and Emanual Newman for respondent.
   Judgment affirmed, with costs; no opinion.

Concur: Willard Bartlett, Ch. J., Hiscock, Chase, Collin, Hogan, Cardozo and Seabury, JJ.