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eBook details

• Title: Pofcher v. Fisher Et Al.
• Author : Supreme Judicial Court of Massachusetts
• Release Date : January 01, 1930
• Genre: Law,Books,Professional & Technical,
• Pages : * pages
• Size : 61 KB

Description

CARROLL, J. This is a suit in equity by the payee of a negotiable promissory note to recover payment and to reach and apply shares of stock in the Sterling Investment Company, owned by one of the indorsers, Bessie Herscovitz. The bill was taken as confessed against Gertrude Fisher, administratrix of the estate of Jacob Fisher, and against Louis D. Covich and Esther D. Covich. The bill was dismissed against Charles Herscovitz. It appeared that there were no shares of stock in the Sterling Investment Company that could be reached; that the sum of $177, received from this company and belonging to Bessie Herscovitz, was deposited with the clerk of the Superior Court. The bill was dismissed against this company. Jacob Fisher, since deceased, made and delivered to the plaintiff a promissory note for $6,750, dated April 22, 1927, payable in monthly installments of $100 each, 'the whole or any remainder thereof to be payable in any event, in or within one year and six months' from the date of the note. The note was indorsed by Louis D. and Esther D. Covich, and by Charles and Bessie Herscovitz. The instalments to July 22, 1927, were paid. The Judge found that the mortgage securing the note was foreclosed in September, 1927, and $1,000 received by the mortgagee; that this sum was applicable to the indebtedness; that the instalments due in July, August, September and October, 1928, were not paid; that the demand and notice of dishonor of October 22, 1928, related only to the $100-instalment due on that date, and did not relate to the balance due on the note, which was also due October 22, 1928, and at that time amounted to $4,950 and interest. A decree was entered against the administratrix of the estate of Jacob Fisher in the sum of $5,857.46 and costs; Louis D. Covich, Esther D. Covich and Bessie Herscovitz were ordered to pay the sum of $438.88 and costs, and the sum of $177 was ordered to be paid the plaintiff to be applied in payment of costs, the balance to be 'applied to the payment of said sum of four hundred thirty-eight dollars and eighty-eight cents ($438.88).' The plaintiff appealed.

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