Catawba Fertilizer Co. v. Gibson

The opinion of the Court was delivered by

Mr. Justice Coti-iran.. In the spring of 1925, the defendant E. W. Gibson effected a loan from the South Carolina Agricultural Loan Association (hereinafter referred to as the “Association”), of $14,500, for his farming operations during that year; the loan was secured by a réal estate mortgage upon 4,000 acres of land, a mortgage upon the crop of 1925, and a chattel mortgage upon 50 mules and 4 horses; it was due November 1, 1925; it appears that at the maturity of the obligation, Gibson had paid nothing upon the principal; I assume that the, interest…