First Mortgage Co. of Pennsylvania v. Federal Leasing Corp.

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• Consideration: “It is well settled that consideration can consist of either a benefit to the promisor or a detriment to the promisee.”
• “§ 2106 is a pure race statute and as such the time of recording is determinative. The rule is first in time, first in right. In the instant case Federal recorded its mortgages in September, 1976, a full six months before FMCP, and, therefore, had priority.”

Source: CourtListener parenthetical corpus (CC0).