Comer & Trapp v. Constantine
Supreme Court of Alabama
Appeal from tbe Chancery Court of Calhoun. Heard before the Hon. S. K. McSpadden. The bill in this case was filed by Comer & Trapp as partners, suing as judgment creditors of Cater & Johnson, against D. F. Constantine; and sought to redeem a storehouse and lot in Anniston, which the defendant had bought at a sale made by Robert P. Thomason, as trustee or assignee, under a general assignment for the benefit of their creditors executed by said Cater & Johnson.
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Appeal from tbe Chancery Court of Calhoun. Heard before the Hon. S. K. McSpadden. The bill in this case was filed by Comer & Trapp as partners, suing as judgment creditors of Cater & Johnson, against D. F. Constantine; and sought to redeem a storehouse and lot in Anniston, which the defendant had bought at a sale made by Robert P. Thomason, as trustee or assignee, under a general assignment for the benefit of their creditors executed by said Cater & Johnson. The assignment was dated the 30th November, 1886; the sale under it was made, pursuant to its terms, on the 1st January, 1887; the…
1Opinion of the CourtMcCLELLAN, J.
The distinction between a mortgage, or a deed of trust in the nature of a mortgage, to secure the of a particular debt or debts, and a deed of trust *493of all tbe grantor’s property for tbe payment of all bis debts, commonly and properly known as a general assignment for the benefit of creditors, is well defined and radical. Tbe purpose of tbe class of instruments first named is to secure a particular indebtedness; tbe purpose of tbe latter is to pay all tbe indebtedness of tbe grantor. In tbe former, a defeasible title only passes, and tbe property reverts to tbe grantor upon tbe happening of…
2Cases cited7 opinions
- Hoffman, Burneston & Co. v. MackallOhio Supreme Court · 1855
- Crow v. BeardsleySupreme Court of Missouri · 1878
- Posey v. PressleySupreme Court of Alabama · 1877
- State ex rel. Holliday v. BenoistSupreme Court of Missouri · 1866
- Dunham Dimon v. . WhiteheadNew York Court of Appeals · 1860
2 more not listed; retrieve them via the Exa API.
3Cited by6 opinions
- Sandusky v. FarisWest Virginia Supreme Court · 1901
- Nicrosi v. IrvineSupreme Court of Alabama · 1893
- Ellison v. MosesSupreme Court of Alabama · 1891
- Butt v. McAlpineSupreme Court of Alabama · 1910
- Bell v. Goetter, Weil & Co.Supreme Court of Alabama · 1894
1 more not listed; retrieve them via the Exa API.