Johnson v. Cunningham

The opinion of the court was delivered by

Dawson, J.:

This appeal presents the question whether a judgment debtor in foreclosure proceedings on real estate may redeem the property from the sale in foreclosure for less than the amount -of the mortgagee’s bid therefor.

The facts were as follows: James C. Cunningham owned an eighty-acre tract of land near Delia. It was encumbered with a first mortgage of $2,900, and a second mortgage for $2,050, held by the Delia State Bank. The bank was in the hands of Charles W. Johnson as receiver, presumably because of its insolvency.

The receiver brought suit…