Locke's v. Palmer
Supreme Court of Alabama
Appeal from the Chancery Court of Greene. Heard before the Hon. James B. ClaRK. This bill was filed in July, 1852, by Wm. M. Palmer and B. D. Palmer, late co-partners in trade doing business under the firm name of W. M. <& B. D. Palmer, against Yolney Boardman, as the executor of John Locke, deceased, and also as the executor of Wm. A. Locke, deceased ; and its object was, to redeem two slaves alleged to have been mortgaged by complainants, in March, 1845, to said Wm.
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Appeal from the Chancery Court of Greene. Heard before the Hon. James B. ClaRK. This bill was filed in July, 1852, by Wm. M. Palmer and B. D. Palmer, late co-partners in trade doing business under the firm name of W. M. <& B. D. Palmer, against Yolney Boardman, as the executor of John Locke, deceased, and also as the executor of Wm. A. Locke, deceased ; and its object was, to redeem two slaves alleged to have been mortgaged by complainants, in March, 1845, to said Wm. A. Locke. The material allegations of the bill are as follows : That complainants, being much embarrassed in their business,…
1Opinion of the CourtG-Oldthwaite, J.
— The first question is, whether the transaction between the Palmers and William A. Locke was an absolute sale, or a mortgage. The first instrument which was executed conveys the title to the property unconditionally, and would, if taken by itself, be regarded as what it appears upon its face to be — an absolute sale. The instrument, however, which was executed in May, 1845, some two months af-terwards, by Locke, recites that it was agreed between himself *322and the Palmers, at the time of the first conveyance, that if the latter should re-pay to him, by the first day of January next thereafter,…
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