Bank of Charleston v. Oates

The opinion of the Court was delivered by

Mr. Justice Stabler.

This is an action for the foreclosure of a real estate mortgage. The facts, as shown by admissions or undisputed testimony, are as follows: On May 2, 1922, Cecil N. Oates executed, and delivered to the Bank of Oates a bond, whereby he promised to pay to that bank on May 1, 1923, $7,500-.00 with interest, etc., and, to secure its payment, a mortgage covering 95 acres of land in Darlington County. Oates was not indebted to the bank and received no consideration for the bond and mortgage. A few days later the mortgage having been duly…