Johnson v. National Building & Loan Ass'n
Supreme Court of Alabama
Appeal from the City Court of Gadsden in Equity. Heard before the Hon. John. H. Disque. The bill in this case was filed by the appellant. against the appellee; and as amended it was averred in the hill that the National Building & Loan Association was a coropration arganized under the laws of the State of Alabama; “that the object of respondent corporation is to enable its members to accumulate in an easy manner by monthly contributions or assessments the necessary capital…
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Appeal from the City Court of Gadsden in Equity. Heard before the Hon. John. H. Disque. The bill in this case was filed by the appellant. against the appellee; and as amended it was averred in the hill that the National Building & Loan Association was a coropration arganized under the laws of the State of Alabama; “that the object of respondent corporation is to enable its members to accumulate in an easy manner by monthly contributions or assessments the necessary capital for acquiring, a homestead, to establish themselves in business, or to deposit their savings securely, and at a fair rate…
1Opinion of the CourtDowdell, J.
The appellee here, respondent in the court below, is a domestic corporation organized under the general law of this State authorizing the incorporation of building and loan associations. The appellant is a member of said respondent and as such a borrowing stockholder. As shown by the bill, the appellant became a member and stockholder in said corporation in April, 1893, by subscribing for two hundred shares of the stock, of the par or face value of fifty dollars per share, on what is called and known as the installment plan. In May following, he obtained a loan of ten thousand dollars from…
2Cases cited21 opinions
- Cook v. Equitable Building & Loan Ass'nSupreme Court of Georgia · 1898
- Hayes v. Southern Home Building & Loan Ass'nSupreme Court of Alabama · 1899
- Security Loan Ass'n v. LakeSupreme Court of Alabama · 1881
- Leahy v. National Building & Loan Ass'nWisconsin Supreme Court · 1898
- Hohenshell v. Home Savings & Loan Ass'nSupreme Court of Missouri · 1897
16 more not listed; retrieve them via the Exa API.
3Cited by12 opinions
- Stone v. WalkerSupreme Court of Alabama · 1917
- AMERICAN LIFE INSURANCE COMPANY v. PowellSupreme Court of Alabama · 1954
- Smith v. Bath Loan & Building Ass'nSupreme Judicial Court of Maine · 1927
- Farmers Saving's & Building & Loan Ass'n v. Kent & SabotkaSupreme Court of Alabama · 1901
- Kirby v. Ft. Payne Co.Supreme Court of Alabama · 1926
7 more not listed; retrieve them via the Exa API.