Middle States Loan, Building & Construction Co. v. Hagerstown Mattress & Upholstery Co.
Court of Appeals of Maryland
Appeal from an order of the Circuit Court for Washington County (Stake, J.) The facts appear in the opinion of the Court. In March, 1891, the appellee made application to the appellant stating it had 100 shares of stock on which it desired a loan of $5,000, to be secured by mortgage.
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Appeal from an order of the Circuit Court for Washington County (Stake, J.) The facts appear in the opinion of the Court. In March, 1891, the appellee made application to the appellant stating it had 100 shares of stock on which it desired a loan of $5,000, to be secured by mortgage. The loan was granted and a bond given conditioned for the payment of monthly interest on the said $5,000 and monthly payments on the 100 shares of stock subscribed for until the stock should be fully paid in and of the value of $100 per share; a mortgage was also given. The par value of the stock was $100 per…
1Opinion of the CourtBryan, J.
The Hagerstown Mattress and Upholstery Company of Washington County borrowed five thousand dollars from the Middle States Loan, Building and Construction Company of Hagerstown, and executed a mortgage to secure the payment of the loan. It filed a bill in equity praying leave to repay the money and redeem the mortgage. It was not questioned that it had the right of redemption, but the controversy was upon the amount to be paid for the purpose. The Court below filed an opinion in which it stated the terms on which the redemption might be made, and referred the case to an auditor to state an…
2Cases cited1 opinion
- Columbian Building Ass'n of East Baltimore, No. 4 v. CrumpCourt of Appeals of Maryland · 1875
3Cited by8 opinions
- Turk v. GrossmanCourt of Appeals of Maryland · 1939
- Commercial Building & Loan Ass'n v. MackenzieCourt of Appeals of Maryland · 1897
- Robinson v. HospelhornCourt of Appeals of Maryland · 1935
- Forwood v. MagnessCourt of Appeals of Maryland · 1923
- Garbis v. WeistockCourt of Appeals of Maryland · 1947
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