First Trust Co. v. Smith

As the opinion adopted by the majority of. the court does not express my views, I am filing this dissent.

I will state the facts of the case briefly.- Smith borrowed $8,000 of the First Trust Company of Lincoln on May 1, 1929, at 6 per cent, interest. He finally paid off. down to $3,000 of the principal, and the time was extended on the balance. Foreclosure proceedings were started February 9, 1934, upon his failure to pay interest and taxes, and a decree was promptly entered on April 12, 1934, finding the amount due on the .mortgage of- $3,354.38, with interest at 10 per cent. First the…