HICKEY v. FIRST NAT. BANK OF LYNDHURST

A creditor holding both a secured and unsecured debt may apply payments against the unsecured debt even though such application be disadvantageous to one who holds a subsequent lien on the same security.

PER CURIAM.

The decree appealed from will be affirmed, for the reasons expressed in the memorandum filed by Vice-Chancellor Bigelow. For affirmance — THE CHIEF-JUSTICE, TRENCHARD, PARKER, CAMPBELL, LLOYD, CASE, BODINE, DALY, DONGES, VAN BUSKIRK, KAYS, HETFIELD, DEAR, WELLS, KERNEY, JJ. 15.

For reversal — None.