Southern Building & Loan Ass'n v. Casa Grand Stable Co.
Supreme Court of Alabama
Appeal from Morgan Chancery Court. Tried before Hon. Wm. H. Simpson. The averments of the bill in sections 5 and 6 as to the subscription for stock, and the bond and mortgage given to secure the loan, are as follows; “In July, 1889, W. G. Skillman, in the name of complainant, made application to the defendant for a loan of money, and in order to procure said loan was required to subscribe in complainant’s name for 70 shares of defendant’s capital stock, and to agree to pay…
Read the full summary
Appeal from Morgan Chancery Court. Tried before Hon. Wm. H. Simpson. The averments of the bill in sections 5 and 6 as to the subscription for stock, and the bond and mortgage given to secure the loan, are as follows; “In July, 1889, W. G. Skillman, in the name of complainant, made application to the defendant for a loan of money, and in order to procure said loan was required to subscribe in complainant’s name for 70 shares of defendant’s capital stock, and to agree to pay therefor at the rate of 35 cents per. share per month, said payment being known as monthly instalments, and to pay 6 of…
1Opinion of the CourtHead, J.
The Casa Grande Livery Stable Company, the complainant in this bill, is a private corporation organized under the general laws of Alabama for *179tlie purpose of owning and operating a livery stable. It acquired ownership of a valuable brick stable, lot and building thereon, in Decatur, and therewith carried on the business for which it was organized. One Skillman was one of the corporators and stockholders.
The defendant, the Southern Building & Loan Association, is a private corporation organized under the general laAvs of Alabama providing for the organization of such institutions, for the…
2Cases cited4 opinions
- Nelson v. HubbardSupreme Court of Alabama · 1892
- Grider v. American Freehold Land Mortgage Co.Supreme Court of Alabama · 1892
- American Freehold Land Mortgage Co. v. SewellSupreme Court of Alabama · 1890
- New England Mortgage Security Co. v. PowellSupreme Court of Alabama · 1892
3Cited by5 opinions
- Wood v. WoodSupreme Court of Alabama · 1901
- Louisville & Nashville Railroad v. State ex rel. GraySupreme Court of Alabama · 1907
- Stuart v. HoltSupreme Court of Alabama · 1916
- Southern Building & Loan Ass'n v. Casa Grande Stable Co.Supreme Court of Alabama · 1900
- Hillcrest Land Co. v. FosheeSupreme Court of Alabama · 1914