Murray v. Stalnaker

THOMAS, J.:

The appellant was plaintiff in the chancery court; the appellees, defendants, so we will use these respective titles interchangeably in our discussion of the case.. A bill was filed seeking foreclosure of a purchase-money mortgage given to secure *a note for $1950.00 payable in monthly installments of $18.00. Each of them was to be used first to pay accrued interest, and any remainder was to be applied to principal until the debt should be eventually discharged. Privilege was given the makers to pay all or part of the principal at any time.

It was stipulated that if the mortgagors…