Easton v. German-American Bank
127 U.S. 532 (1888)

Annotate this Case

U.S. Supreme Court

Easton v. German-American Bank, 127 U.S. 532 (1885)

Easton v. German-American Bank

No. 291

Argued May 4, 1888

Decided May 14, 1888

127 U.S. 532

APPEAL FROM THE CIRCUIT COURT OF THE UNITED

STATES FOR THE SOUTHERN DISTRICT OF NEW YORK

Syllabus

A creditor whose debt is secured by a deed of trust of real estate to a third party as trustee may purchase the property at a sale by the trustee under the terms of the trust, and if he credits the debtor on the mortgage debt with the amount of the purchase money, it is in fact and in law a money payment to the use and benefit of the debtor.

The plaintiff in error acquired by the purchase from the assignee in bankruptcy no interest either in the debt of the bankrupt to the defendant in error or in the real estate conveyed in trust to secure it.

Page 127 U. S. 533

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