Hill v. Hilliard & Co.
Supreme Court of North Carolina
Civil ACTION, tried before MacRae, J., at Fall Term, 1888, of Halifax Superior Court. The following are agreed upon as the facts in this controversy : 1. That on the 3d day of March, 1876, the defendant James L. -Ousby executed to Maria J. Lowe a mortgage in fee on two' lots near the town of Halifax, numbered 8 and S, to secure three notes, all then past due, upon condition that if said Ousby shouldjpay said notes by January 1,1877, said mortgage deed should be void, and…
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Civil ACTION, tried before MacRae, J., at Fall Term, 1888, of Halifax Superior Court. The following are agreed upon as the facts in this controversy : 1. That on the 3d day of March, 1876, the defendant James L. -Ousby executed to Maria J. Lowe a mortgage in fee on two' lots near the town of Halifax, numbered 8 and S, to secure three notes, all then past due, upon condition that if said Ousby shouldjpay said notes by January 1,1877, said mortgage deed should be void, and with power of sale in case of default. Said deed was duly registered in Halifax County. 2. That on the 5th day of April,…
1Opinion of the CourtShepherd, J.
This action was commenced on the 23d of February, 1888, eleven years after the forfeiture of the plaintiff’s mortgage, and the mortgagor has been in possession of lots numbers eight and nine during the whole period, and has made no payment. About nine years after the forfeiture, Ousby, the mortgagor, executed a mortgage upon his equity ■of redemption to the defendant Hilliard, and it is admitted that the property, “ outside of lots numbers eight and nine, is insufficient to pay” his debt. Had anything transpired between the plaintiff and the mortgagor, before the execution of the mortgage to…
2Cases cited5 opinions
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