Union Bank v. Bagley

The defendant is appellant from a judgment decreeing certain property in his possession, to be sold under a mortgage on the same, held by the plaintiffs. The property had been mortgaged in 1833, by Elijah Martin Terrell, to secure 24 shares of the stock of the Union Bank of Louisiana, upon which he subsequently obtained a loan of $1080, and executed his bond for the amount, which is now reduced to $840. In 1838, Terrell sold the property to the present defendant, subject to the mortgage securing the shares, which were also included in the sale. In 1841, E. M. Terrell made a surrender of his…