Chapman v. Robertson

Citations

• 6 Paige Ch. 627
• 1837 N.Y. LEXIS 287
• 1837 N.Y. Misc. LEXIS 75

Syllabus

<p>Where R. a resident of the state of New-York applied toC. at his residence in England for a loan of money, upon the security of a bond and a mortgage upon lands in New-York, at the legal rate of interest in that state, and it was there agreed that upon the return of R. to New-York he should execute his bond and mortgage, and have the mortgage duly recorded in the county where the lands were situated, and that upon the receipt of the bond and mortgage by C. in England he should deposit the money loaned with the bankers of R. in London', for his use; and the bond and mortgage were executed and the money received accordingly ; Held, that the mortgage was a valid security for the loan according to the laws of New-York; and that upon a bill filed there to foreclose the mortgage, R. could not set up the usury law of England as a defence to the suit.</p> <p>The construction and the validity of a contract which is purely personal depends upon the law of the place where the contract is made, unless it is made in reference to the laws of some other place or country where it is to be performed or carried into elfect.</p> <p>But the transfer of lands or other heritable property, or the creation of any interest in or lien thereon, must be made in conformity to the local laws of the place where the property is situated. And such local laws must also be resorted to for the purpose of determining what is to be considered real or heritable property so as to give it locality at such place.</p> <p>Upon a bill to foreclose a mortgage, or to obtain satisfaction of the amount due from the defendant, the latter may offset a debt due to him from the complainant, which would be a proper subject of offset in a suit brought by the complainant, at law, to recover the amount due upon his mortgage.</p> <p>Where a mere personal security is given for the payment of money loaned, and no place of payment is specified therein, the residence of the lender at the time of giving such security must be