Catawba Fertilizer Co. v. Gibson

Mr. Chiee Justice Watts

(dissénting) : This is an action to enforce the application of the proceeds of the sale of certain mortgaged property to the payment of a mortgage from the defendant Gibson to the plaintiff. These mortgaged chattels had been sold by the defendant Association, and the proceeds of the sale applied on a certain mortgage for $15,006.06. But the said Association had by instrument in writing and by its conduct agreed that the plaintiff’s mortgage óf $884.32 should first be paid prior to the payment of the $15,006.06 mortgage.

This suit arises from the following facts:

The…