Mutual Life Ins. Co. of New York v. Rothschild

Full title: THE MUTUAL LIFE INSURANCE COMPANY OF NEW YORK, Respondent, v . EUGENIE…

Court: Appellate Division of the Supreme Court of New York, First Department

Date published: Feb 1, 1917

177 App. Div. 883 (N.Y. App. Div. 1917)

Opinion

February, 1917.

Present — Clarke, P.J., Scott, Page, Davis and Shearn, JJ.; Page, J., dissented.

Judgment modified so as to provide that the deficiency judgment shall only be calculated at four and one-half per cent, as found to be due, and as so modified affirmed, without costs. No opinion. Order to be settled on notice.

PAGE, J. (dissenting):

I dissent on the ground that increasing the rate of interest from four and one-half to five per cent and the cancellation of the privilege of prepayment having been made without the knowledge or consent of the original bondsmen, or their personal representatives, relieved them from liability for a deficiency judgment.