Oscar L. Graf, as Executors and Trustees Under the Will of Joseph L. Graf, Deceased, Appellants v. Hope…

Summary

The New York Court of Appeals reversed the lower courts and held that the acceleration clause in the consolidated mortgage was enforceable despite the debtor's clerical mistake, and that equity will not relieve the mortgagee from enforcing the covenant. The dissent argued that equity should intervene because of the debtor's negligence and hardship, and would have affirmed the lower court.