National City Bank of Mobile v. Barret

When this cause was here on last appeal (National City Bank v. Barret, 217 Ala. 611, 117 So. 55), the conveyance by Mrs. Barret of one-fourtli interest in some 4,480 acres of land in Mississippi, with option to repurchase within two years, given to Barret Bros. & Co.,, and assigned at the time to Mrs. Barret, was held a, mortgage. It was sustained as a valid mortgage to the extent of the indebtedness represented by what is known as the King notes. Mrs. Barret’s right of recovery was defined as the value of her equity of redemption lost by the conveyance made by the bank to Pringle, a resident…