Bank of Cumming v. Moseley

Hall, Justice.

Harry and Ted Moseley sued appellant Bank of Cumming to force re-assignment to them of a third party note and security deed held by the bank as collateral for a loan to the brothers. When the bank failed to answer, the Moseleys obtained a default judgment. Within the same term of court, the trial judge set aside the default, but the bank still did not answer the complaint. Eleven months later, the bank attempted to foreclose on the third party note, alleging that Harry Moseley was in default on a subsequent loan secured by that note. The trial court temporarily enjoined the…