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Application of Jeffrey Towers, Inc.
New York Supreme Court
57 Misc. 2d 46, 291 N.Y.S.2d 41 (1968)
- Written by Whitney Kamerzel , JD
Facts
A mortgagor (buyer) (plaintiff) initiated an action to determine whether the buyer was entitled to absolute satisfaction and discharge of a mortgage after the buyer paid the contracted amount, with interest, to purchase five acres from the mortgagees (sellers) (defendants). The sellers argued that the mortgage was not satisfied because in exchange for the mortgage the buyer also had agreed to install a sewer main, construct a driveway, and consent to zoning applications.
Rule of Law
Issue
Holding and Reasoning (Gagliardi, J.)
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