Lawrence v. Tucker - 64 U.S. 14 (1859)
U.S. Supreme Court
Lawrence v. Tucker, 64 U.S. 23 How. 14 14 (1859)
Lawrence v. Tucker
64 U.S. (23 How.) 14
Where a mortgage was given to secure the payment of a note for $5,500, and such advances as there had been or might be made within two years, not to exceed in all an indebtment of six thousand dollars, and advances were made, the mortgage was good to cover the advances and the note for $5,500.
The parties to the transaction so understood it, and acted upon it accordingly.
In respect to the validity of mortgages for existing debts and future advances, there can be no doubt. This Court has made three decisions directly and inferentially in support of them.
The nature of the mortgage and the circumstances under which it was given are set forth in the opinion of the Court, and need not be repeated.