The Orleans County National Bank, Appellant v. Charles H. Moore, Impleaded

Summary

The Court affirmed the lower court's order that the proceeds of the foreclosure sale must be applied pro rata among the debtor's multiple obligations secured by the mortgage, rather than allowing the creditor to allocate the funds to any particular debt. The Court held that the creditor's right to direct application is limited to voluntary payments and that equity requires protection of surety interests.