Bank of Lexington v. Cooper
Mississippi Supreme Court
Appeal from the chancery court of Holmes county. Hon. A. Y. Woodward, Chancellor. Bill by the Bank of Durant against J. A. McDonald and the Bank of Lexington, in which B. L. Cooper, special agent was substituted as plaintiff. From a decree for complainant, defendant appeals. This case presents conflicting claims as to the priority of liens of certain deeds of trust held by appellant Bank of Lexington and the appellee as special agent of the Bank of Durant.
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Appeal from the chancery court of Holmes county. Hon. A. Y. Woodward, Chancellor. Bill by the Bank of Durant against J. A. McDonald and the Bank of Lexington, in which B. L. Cooper, special agent was substituted as plaintiff. From a decree for complainant, defendant appeals. This case presents conflicting claims as to the priority of liens of certain deeds of trust held by appellant Bank of Lexington and the appellee as special agent of the Bank of Durant. The facts are that one J. A. Me-Donald, on April 14, 1904, borrowed from tbe Bank of Durant six hundred and forty-five dollars, evidenced…
1DissentEthridge, J.
I cannot accept the construction the majority places upon section 2796 of the Code of 1906. This section reads as follows:
“Where the remedy to enforce any mortgage, deed of trust, or other lien on real or personal property which is recorded, appears on the face of the record to be barred by the statute of limitation, the lien shall cease and have no effect as to creditors and subsequent purchasers for a valuable consideration without notice, unless within six months after such remedy is so barred the fact that such mortgage, deed of trust, or lien has been renewed or extended be entered on…
2Cases cited3 opinions
- Schumpert v. Dillard, Pinson & Co.Mississippi Supreme Court · 1877
- Mangold v. BarlowMississippi Supreme Court · 1884
- Klaus v. MooreMississippi Supreme Court · 1900