Street v. Alexander City Bank
Supreme Court of Alabama
Appeal from Circuit Court, Calhoun County ; Hugh D. Merrill, Judge. Bill by Anne D. Street against the Alexander City Bank to have a deed declared a mortgage and then to have the mortgage declared void as being a mere security for the husband’s debt, or, in the alternative, to have a redemption from the mortgage upon doing equity in the premises. Decree for respondent, and complainant appeals.
Read the full summary
Appeal from Circuit Court, Calhoun County ; Hugh D. Merrill, Judge. Bill by Anne D. Street against the Alexander City Bank to have a deed declared a mortgage and then to have the mortgage declared void as being a mere security for the husband’s debt, or, in the alternative, to have a redemption from the mortgage upon doing equity in the premises. Decree for respondent, and complainant appeals. The bill charges that, on June 29, 1914, complainant’s husband, J. C. Street, applied to the respondent bank for a loan of $5,000, which the said bank made to him, $3,000 of which was loaned to her said…
1Opinion of the CourtSomerville, J.
[1] Section 4497 of the Code provides that “the wife shall not, directly or indirectly, become the surety for the husband.” “The statute is founded upon public’policy which is to protect the wife’s estate as against the influence of her husband or other person, or her own inclination, in respect to subjecting it to her husband’s debts.” Richardson v. Stephens, 122 Ala. 301, 307, 25 South. 39, 41. It has been liberally construed and zealously applied by the courts'for the accomplishment of its obvious design, as oui; numerous decisions will show. Lamkin v. Lovell, 176 Ala. 334, 58 South. 258;…
2Cases cited7 opinions
- Lamkin v. LovellSupreme Court of Alabama · 1912
- Richardson v. StephensSupreme Court of Alabama · 1898
- Staples v. City Bank & Trust Co.Supreme Court of Alabama · 1915
- Hanchey v. PowellSupreme Court of Alabama · 1911
- Corinth Bank & Trust Co. v. KingSupreme Court of Alabama · 1913
2 more not listed; retrieve them via the Exa API.
3Cited by17 opinions
- Dewberry v. Bank of Standing RockSupreme Court of Alabama · 1933
- Lester v. JacobsSupreme Court of Alabama · 1925
- Little v. People's BankSupreme Court of Alabama · 1923
- Rollings v. GunterSupreme Court of Alabama · 1924
- Van Derslice v. Merchants' BankSupreme Court of Alabama · 1925
12 more not listed; retrieve them via the Exa API.