Perkins v. Swank
Mississippi Supreme Court
Appeal from the chancery court of Tallahatchie county. Cothran, J. The facts are fully stated in the opinion of the court. The court will see, upon looking into the evidence, that the case presented by the record is a contest between two incumbrancers for priority in tbe application of the proceeds of property which each claim under a mortgage.
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Appeal from the chancery court of Tallahatchie county. Cothran, J. The facts are fully stated in the opinion of the court. The court will see, upon looking into the evidence, that the case presented by the record is a contest between two incumbrancers for priority in tbe application of the proceeds of property which each claim under a mortgage. The moral equity of the complainants cannot be denied, and if there is no legal obstacle in tbe way, would certainly determine the question in their favor. They originally owned the saw-mill and machinery, and sold it to Swank. He has never paid them…
1Opinion of the Court
Simrall, J.:
On the 29th of November, A. D. 1865, Harper leased a plantation in Tallahatchie county, with the mules, stock, etc., to Swank, for the year 1866, for forty bales of cotton. Special lien was taken on the crop to secure the rent. In August, 1866, Swank proposed to purchase the property. The terms seem to have been agreed upon verbally. About the close of the year, December, the contract was reduced to writing. Swank was to pay $50,000 for the property, $5,000 1st Jan-*357nary, 1867; $5,000 1st April, 1867, and the balance in three, annual installments. If the payment due 1st January,…
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