People's Building & Loan Ass'n v. McPhilamy
Mississippi Supreme Court
From tbe chancery court of Lauderdale county. Hon. Stone Deavours, Chancellor. McPhilamy and Hawks, the respective appellees, were complainants in separate suits in the court below, the building' and loan association, appellant in both cases, was defendant there in both cases. Appellees were borrowing members of the People’s Building and Loan Association.
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From tbe chancery court of Lauderdale county. Hon. Stone Deavours, Chancellor. McPhilamy and Hawks, the respective appellees, were complainants in separate suits in the court below, the building' and loan association, appellant in both cases, was defendant there in both cases. Appellees were borrowing members of the People’s Building and Loan Association. The association went into voluntary liquidation, and was about to foreclose the mortgages that tbe appellees bad given it to secure tbeir loans, when they filed the bills in these cases in the chancery court to enjoin the sale of the…
1Opinion of the Court
Whitrteld, O. J.,
delivered the opinion of the court.
These cases will be considered and determined together, as *77they are one, so far as the method of accounting is concerned. This is a true building and loan association, and it is a domestic building and loan association, and hence no question of usury is involved. It had been operating for some years, and, finding that its business ceased to be profitable, it went into voluntary liquidation in September, 1898. We are inclined to think that the association is insolvent, but whether so or not is not material in considering the method of…
2Cases cited27 opinions
- Strohen v. Franklin Saving Fund & Loan Ass'n ex rel. McKinleySupreme Court of Pennsylvania · 1887
- Brown v. Lasalle ArcherMissouri Court of Appeals · 1895
- Leahy v. National Building & Loan Ass'nWisconsin Supreme Court · 1898
- Curtis v. Granite State Provident Ass'nSupreme Court of Connecticut · 1897
- Knutson v. Northwestern Loan & Building Ass'nSupreme Court of Minnesota · 1897
22 more not listed; retrieve them via the Exa API.
3Cited by11 opinions
- Chicago, Burlington & Quincy Railroad v. School District No. 1Supreme Court of Colorado · 1917
- Shipman v. WrightCourt of Appeals of Texas · 1928
- Groover v. Pacific Coast Sav. SocietyCalifornia Supreme Court · 1912
- Cocke v. WrightTexas Commission of Appeals · 1931
- Smith v. Bath Loan & Building Ass'nSupreme Judicial Court of Maine · 1927
6 more not listed; retrieve them via the Exa API.