Fayetteville Building & Loan Ass'n v. Bowlin
Supreme Court of Arkansas
Appeal from Washing-ton Circuit Court in Chancery. Fdward S. McDaniel, Judg-e. STATEMENT BY THE COURT. Appellee, The American Baptist Home Mission Society, held a note of the First Colored Baptist Church, of Fayetteville, executed through its trustees on 22d day of April, 1886, for $300, due one year after date.
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Appeal from Washing-ton Circuit Court in Chancery. Fdward S. McDaniel, Judg-e. STATEMENT BY THE COURT. Appellee, The American Baptist Home Mission Society, held a note of the First Colored Baptist Church, of Fayetteville, executed through its trustees on 22d day of April, 1886, for $300, due one year after date. The note was secured by a mortgage on the land- in controversy, which mortgage was duly recorded on the 1st day of July, 1886. On the 9th day of July, 1889, the said church, through its trustees, executed to appellant building and loan association a deed of trust on the land in…
1Opinion of the Court
Wood, J.,
(after stating the facts.) The only question presented is the construction of the act of March 25, 1889, which is as follows : “In suits to foreclose or enforce mortgages or deeds of trusts, it shall be sufficient defense that they have not been brought within the period of limitation prescribed by law for a suit on the debt or liability for the security of which they were given. ' Provided, when any payment is made on any such existing indebtedness, before the same is barred by the statute of limitation, such payment shall not operate to revive said debt or to extend the operations…
2Cited by5 opinions
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