Smith v. General Investments, Inc.

This is a suit by a mortgagee for a deficiency judgment, after a foreclosure sale, against the mortgagors and their grantee, who assumed the mortgage debt. The Circuit Court of Harrison County rendered judgment for the mortgagee against all defendants, after crediting the amount received on the foreclosure. The principal questions are whether the deed of trust was in default at the time of foreclosure, the relevance of evidence by the assuming grantee that he did not intend to assume the debt, and whether there was such inadequacy of sale price as to make an issue for the jury on validity of…