Gilliam v. McCormack

The report of the Commission of Referees contains a full statement of the facts. The reasoning, as well as the conclusions, of Judge Caldwell, who prepared that report, being altogether satisfactory, is adopted and made a part of this opinion. It is as follows:

“These bills were brought to compel an application of the equitable doctrine of marshaling securities.

“The defendant, M. McCormack, owned three lots of ground — A, B, and C — -in the city of Nashville, which he mortgaged to various creditors, as follows:

“First — A, B, and' C, to McEarland, May 81st, 1877, to secure $1,000.

“Second — A…