Stoutz v. Rouse
Supreme Court of Alabama
Appeal from Mobile Chancery Court. Heard before Hon. Thomas W. Coleman. Appellant executed a mortgage on certain real estate, known as “Hollinger’s” or “Montgomery” Island, to secure ■ his indebtedness to appellee. This indebtedness, amounting to $5940, had become due, and to avoid a foreclosure suit and a sale of the property under chancery decree, appellant executed a deed conveying the property to appellee for said sum of $5940, and put appellee in possession thereof.
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Appeal from Mobile Chancery Court. Heard before Hon. Thomas W. Coleman. Appellant executed a mortgage on certain real estate, known as “Hollinger’s” or “Montgomery” Island, to secure ■ his indebtedness to appellee. This indebtedness, amounting to $5940, had become due, and to avoid a foreclosure suit and a sale of the property under chancery decree, appellant executed a deed conveying the property to appellee for said sum of $5940, and put appellee in possession thereof. It was further provided, in writing, that appellant “might redeem said property within two years from the date of the deed,…
1Opinion of the CourtSomeryille, J.
A court of chancery will set aside any agreement entered into by a mortgagor, contemporaneously with the execution of the mortgage, by which he waives, unduly fetters, or agrees not to exercise his equity of redemption in event of default in the payment of the mortgage debt. And, as observed by Lord Chancellor
*311Northington, in Vernon v. Bethell, 2 Eden, 110. “there is great reason and justice in this rule, for necessitous men are not, truly speaking, free men, but to answer a present exigency will submit to any terms that the crafty may impose upon them.” The right of redemption is the creature…
2Cases cited7 opinions
- Comer v. SheehanSupreme Court of Alabama · 1883
- Mewburn's Heirs v. BassSupreme Court of Alabama · 1886
- Cooper v. HornsbySupreme Court of Alabama · 1881
- Heirs v. United States Bank of PennsylvaniaSupreme Court of Alabama · 1845
- Parmer v. ParmerSupreme Court of Alabama · 1883
2 more not listed; retrieve them via the Exa API.
3Cited by30 opinions
- Copeland v. WarrenSupreme Court of Alabama · 1926
- Peagler v. StablerSupreme Court of Alabama · 1890
- Goree v. ClementsSupreme Court of Alabama · 1891
- Dickens v. HestonIdaho Supreme Court · 1933
- Worley, Receiver v. CarterSupreme Court of Oklahoma · 1912
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