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Bland's Reports, Chancery Court 1809-1832
Volume 201, Volume 2, Page 668   View pdf image (33K)
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668 ANDREWS v. SCOTTON.

bill against his debtor, for the balance of the debt; because it
would be at variance with the substantial nature of the case set
out in his bill; which is, that he should by that proceeding in
rem, obtain satisfaction of his claim from the pledged subject
itself, either by having an absolute title assured to him in the form
of a foreclosing; or by having it sent into the market, and the
money due to him, raised by a sale; and not that he should be
allowed to enforce payment of his whole debt, by proceeding
against the person of his debtor, or against any other of his pro-
perty than that so mortgaged. And besides, to pass a decree for
the payment of the balance, would be to grant relief in a case,
where it is most manifest, the creditor might be as effectually
relieved at law. (e) But there is no rule of equity by which he
can be delayed or enjoined from recovering the balance remaining
so unsatisfied, in an action at law upon the bond, note, covenant,
or assumpsit. And these principles of equity appear to have been
indirectly recognized by the legislature, in an act for the benefit
of foreigners, who lend money on mortgage here, by which it is
declared, that if sufficient be not raised in such case, by a sale
for the satisfaction of such foreign creditor, the court shall decree
the balance to be paid by the mortgagor; (f) and they appear to
have been in like manner recognized, by an adjudication of the
Court of Appeals, (g)

cause standing ready for hearing, the bill, exhibits, and all other proceedings, were
by the Chancellor read and considered. It is thereupon Decreed, that the bill of the
complainant, George Buchanan, against Michael Shannon, the defendant, be taken
pro confesso; and that unless the defendant, Michael Shannon, shall on the 1st day
of October next bring into this court, to be paid to the complainant, the sum of
£252 10s. 6d. current money, which will be the sum on that day due for principal
and interest on the mortgage in the bill mentioned; or at any time before the said
day shall bring into this court, to be paid to the complainant as aforesaid; or pay to
the complainant the sum of £170 12s. 6d. current money, with interest from the
1st day of October, 1792, until the time of bringing in or actual payment, he shall
for ever be barred or foreclosed from all redemption or equity of redemption of the lot
in the bill and mortgage mentioned; and the complainant, bis heirs and assigns, shall
be entitled to hold the same free, clear, and discharged from all claim of the said
defendant. Provided always, that if the said absent defendant, his heirs, devisees,
or representatives, shall appear in the Chancery Court at any time within eighteen
calendar months from the date of the decree, viz. before the 18th day of September,
1801, and require a review of this decree, the Chancellor, upon bill filed by the said
defendant, or his heirs, devisees, or representatives, shall proceed to an examina-
tion of the matters in dispute, and to a final decree, in the same manner as if the said
defendant had originally appeared before him,—[1795, ch. 88, s. 1.]

(e) Powel Mortg. 15, note L; Wood v. Pultou, 2 H. & G. 72.—(f) 1784, ch.
58.—(g) Wood v. Fulton, 2 H. & G. 72.

 

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Bland's Reports, Chancery Court 1809-1832
Volume 201, Volume 2, Page 668   View pdf image (33K)
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