Houston v. National Mutual Building & Loan Ass'n
Mississippi Supreme Court
From the chancery court of Lauderdale county. Hon. Stone Deavors, Chancellor. Houston, appellant, was complainant, and the National Mutual Building and Loan Association and others, appellees, were defendants in the court below. On May 25, 1892, Mrs. Justa M. David executed a mortgage to the National Mutual Building & Loan Association to secure to it a debt of $1,100, money loaned to her.
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From the chancery court of Lauderdale county. Hon. Stone Deavors, Chancellor. Houston, appellant, was complainant, and the National Mutual Building and Loan Association and others, appellees, were defendants in the court below. On May 25, 1892, Mrs. Justa M. David executed a mortgage to the National Mutual Building & Loan Association to secure to it a debt of $1,100, money loaned to her. It was provided in the terms of the mortgage that, upon default made in the payment of the debt as provided in it, it should be lawful for the mortgagee to enter upon the premises and sell and dispose of…
1Opinion of the CourtWhitbield, C. J.
It is settled law in this state that a mortgagee cannot purchase directly or indirectly at a sale under his mortgage, unless the mortgage confers such right, or the mortgagor consents to such purchase. Byrd v. Clarke, 52 Miss., 623. Counsel for appellees earnestly insists that the mortgagor and those claiming under him have no absolute option to avoid such voidable sale, but only an option conditioned upon the existence of fraud or unfairness in the sale. He cites some Texas cases and a few-other cases to support that view. The reasoning of these cases is that, unless the mortgagee is…
2Cases cited14 opinions
- Michoud v. GirodSupreme Court of the United States · 1846
- Gardner v. . OgdenNew York Court of Appeals · 1860
- Horn v. Indianapolis National BankIndiana Supreme Court · 1890
- Crocker v. BellangeeWisconsin Supreme Court · 1858
- McMahon v. . AllenNew York Court of Appeals · 1866
9 more not listed; retrieve them via the Exa API.
3Cited by16 opinions
- Wansley v. First Nat. Bank of VicksburgMississippi Supreme Court · 1990
- Warner v. FlackIllinois Supreme Court · 1917
- Cooper v. Hillsboro Garden TractsOregon Supreme Court · 1915
- DeMoville v. Merchants & Farmers BankSupreme Court of Alabama · 1936
- Lake v. PerryMississippi Supreme Court · 1909
11 more not listed; retrieve them via the Exa API.