O'Connor v. Georgia Railroad Bank

A borrowed money of B, giving as security a deed to real estate and taking a bond to reconvey the property on payment of the money borrowed. Subsequently he transferred bis bond to C. Between the time the security-deed was given and the time the bond to reconvey was transferred,- creditors of A obtained judgments against him. A defaulted in the payment of his debt to B, and B foreclosed his security-deed, first putting title back into A for the purpose of levy and sale. At the sale of the property a surplus was realized over and above the amount of B’s claim. Held: Regardless of the inability…