Liberty Homestead v. Pasqua

ODOM, Justice.

Plaintiff is a building and loan association, organized under the laws of this state. On July 5, 1928, it advanced to defendant $8,500 and took' his note for that sum, payable on demand, secured by vendor’s lien and special mortgage on certain real estate. On July 25, 1935, plaintiff, alleging that defendant had defaulted on his payments, sought to foreclose its mortgage by executory process. The usual order of seizure and sale was granted; the property was seized and advertised for sale.

Whereupon defendant brought suit to enjoin the proposed sale on the ground that the note had…