Morris v. Fidelity Mortgage Bond Co.
Supreme Court of Alabama
Appeal from Jefferson Chancery Court. Heard before Hon. A. H. Benners. Bill by the Fidelity Mortgage Bond Company against W. M. Morris and others for an accounting, cancellation of a deed, and the sale of property to pay debt, and to declare a deed a general assignment. From a decree overruling demurrers to the bill, respondents appeal.
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Appeal from Jefferson Chancery Court. Heard before Hon. A. H. Benners. Bill by the Fidelity Mortgage Bond Company against W. M. Morris and others for an accounting, cancellation of a deed, and the sale of property to pay debt, and to declare a deed a general assignment. From a decree overruling demurrers to the bill, respondents appeal. The bill alleges an indebtedness of Morris, the complainant, of $1,080, as follows: P. O. and F. C. Mc-Glathery on December 20, 1909, executed to B. R. and B. L. Allison a mortgage for $1,000, payable three years after date, evidenced by one principal note and…
1Opinion of the Court
ANDERSON, O. J.
The holder of the note and mortgage is not required to.first foreclose the mortgage, but may bring his action on the note alone.—Jones on Mortgages, § 1220; Cullum v. Emanuel, 1 Ala. 23, 34 Am. Dec. 757. A mortgagee may, in the absence of an agreement to the contrary, proceed on all of his remedies at once, or use such of his remedies as will give him the easiest relief against the mortgagor or a subsequent incumbrancer or assignee.—18 Eng. Rui. Oas. 434. (1) He may sue for the debt; (2) he may sue for the property; and (3) he may foreclose.
While the mere purchase of land…
2Cases cited5 opinions
- Lehman v. MeyerSupreme Court of Alabama · 1880
- Smith v. YoungSupreme Court of Alabama · 1911
- Cullum v. EmanuelSupreme Court of Alabama · 1840
- Foster v. LeeSupreme Court of Alabama · 1911
- Powell v. Boon & BoothSupreme Court of Alabama · 1869
3Cited by9 opinions
- Triple J Cattle, Inc. v. ChambersSupreme Court of Alabama · 1989
- Continental Casualty Co. v. BrawnerSupreme Court of Alabama · 1933
- Howell v. WardSupreme Court of Alabama · 1935
- MacKe v. MacKeSupreme Court of Alabama · 1917
- Nelson v. BoeSupreme Court of Alabama · 1933
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