Case Name: Davis v. Geary et al.
Court: Connecticut Supreme Court
Jurisdiction: Connecticut
Decision Date: 1792-03
Citations: 1 Root 410
Docket Number: 
Parties: Davis v. Geary et al.
Judges: 
Reporter: Connecticut Reports
Volume: 1
Pages: 410–411

Head Matter:
Davis v. Geary et al.
A creditor accepting from Ms debtor a release of bis equity of redemption in certain premises mortgaged to secure a debt, of more value than tbe debt in satisfaction, of it, -will operate as a payment of tbe interest of said debt.
Action upon a writing proroismg to pay tbe interest upon a certain execution for £257. Plea — Not guilty. By consent of parties, issue to tbe court.
Tbe case was — Tbe defendants owed tbe plaintiff by note which was upon interest, and to secure tbe payment of it, mortgaged a tract of land of much greater value than tbe debt; tbe plaintiff sued said note, recovered judgment upon it for tbe aforesaid sum, and took out execution, and to secure tbe interest upon said execution tbe writing aforesaid was given. Afterwards it was agreed, that tbe defendants should release their equity of redemption, in said mortgaged premises, and the plaintiff should accept of it in full satisfaction, of said debt, without anything more explicit; and the defendants in execution of said agreement on their part made and delivered to the plaintiff a release of their equity of redemption in said mortgaged premises, which the plaintiff accepted: But neither said execution nor said promissory writing was indorsed or delivered up; and the mortgaged premises were of more value than said execution and the interest upon it.

Opinion:
By the Court.
Judgment must be for the defendants. Eor the agreement is clearly to be understood to extend to the interest on tlio execution secured by the writing on which, etc. as well as the principal debt in the execution.