Rosemary Manufacturing Co. v. Jefferson

The plaintiff derived its title to the land under a deed from the Roanoke Bank & Trust Company, dated 29 December, 1936. Tbe Roanoke Bank & Trust Company purchased at the foreclosure sale under the power contained in a deed of trust executed by defendants to W. L. Long, trustee, dated 19 December, 1923. Tbe trustee’s deed, dated 1 July, 1936, recited that the foreclosure sale was occasioned by default having been made in the payment of the debt secured.

Tbe defendants set up two defenses, first, that the power of sale was barred by the statute of limitations, and, second, that the debt bad…