Woods v. Allison Lumber Co.

On Rehearing.

LAWSON, Justice.

A mortgage taken by a foreign corporation in this state without complying with the provisions of law now codified as § 192, Title 10, Code 1940, although void as an executory contract, will not be declared void after foreclosure of the mortgage, for the contract ceases to be executory and property rights become vested. Shahan v. Tethero, 114 Ala. 404, 21 So. 951; Diefenbach v. Vaughan, 116 Ala. 150, 23 So. 88; Hardison v. Plummer, 152 Ala. 619, 44 So. 591; Continental Trust Co. v. Tallassee Falls Mfg. Co., D.C., 222 F. 694. Grounds of demurrer taking this point…