Herbert & Gessler v. Easton
Supreme Court of Alabama
Appeal from the Chancery Court of Mobile. Heard before the Hon. N. W. Cocke. The facts upon, which the case turns will be found in the opinion. Appellants insist that the chancellor erred in his decretal order of reference directing the master to ascertain and report the value of the land, at the date of the contracts, and what the defendant had paid on the same, and comparing the true value with the price contracted to be paid, to report the amount due.
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Appeal from the Chancery Court of Mobile. Heard before the Hon. N. W. Cocke. The facts upon, which the case turns will be found in the opinion. Appellants insist that the chancellor erred in his decretal order of reference directing the master to ascertain and report the value of the land, at the date of the contracts, and what the defendant had paid on the same, and comparing the true value with the price contracted to be paid, to report the amount due. After ascertaining whether or not the understanding and agreement between the parties was that the consideration was the payment of the…
1Opinion of the CourtB. F. Saffold, J.
On the 20th of October, 1864, the appellants purchased from the appellee certain lots of land in the city of Mobile, and gave him five promissory notes therefor, the payment of which they secured by a mortgage on the lots. In the mortgage it was stipulated that these notes might be paid at any time before the maturity *550of the last one, in Confederate treasury-notes. All of the notes were paid within the time specified, except the last one, which was for $8,500, due on the 1st of April, 1865. The appellee having filed a bill to foreclose his mortgage, the chancellor, in his decree of reference,…
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