Cooper v. Federal Land Bank of New Orleans

The plaintiff, Cooper, executed a mortgage in favor of the defendant land bank in November, 1922, to secure a loan of $1,200, represented by his note for that amount, payable in 35 annual installments of $78 each, except the last installment which was for $75. The land covered by the mortgage consists of 80 acres with improvements in Tangipahoa Parish. It appears that several installments were paid when, in May, 1930, the first of a series of suits on this loan was filed by the land bank against Cooper for the foreclosure of the mortgage on account of the failure to pay an installment. It…