Eslava v. New York National Building & Loan Ass'n
Supreme Court of Alabama
Appeal, from tlio Chancery Court of Mobile. Heard before tlie Hon. W. H. Tayloe. The New York National Building & Loan Association brought this bill against Jules Eslava to foreclose a mortgage executed to it by Odyle Eslava on the land which the latter conveyed to Jules Eslava after the execution of the mortgage. The defendant demurred to the bill on the grounds covered by the points determined in the opinion.
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Appeal, from tlio Chancery Court of Mobile. Heard before tlie Hon. W. H. Tayloe. The New York National Building & Loan Association brought this bill against Jules Eslava to foreclose a mortgage executed to it by Odyle Eslava on the land which the latter conveyed to Jules Eslava after the execution of the mortgage. The defendant demurred to the bill on the grounds covered by the points determined in the opinion. The demurrer was overruled] and from this decree appeal is taken. (1). The current of authority in other States is against the rules that an as-signee cannot set up usury. — Butts v.…
1Opinion of the CourtSharpe, J.
— 1. That provision of the act of February 7th, 1893, requiring all building and loan associations whether foreign or domestic to pay a license fee for doing business in this State is not intended for the protection of individual interests or the enforcement of any principle of public policy. Its purpose was merely to assist the State’s revenue and though non-compliance is visited with a penalty it does not vitiate contracts arising in such business.
2. Whether such effect would follow from non-compliance with that part of the same act requiring a deposit of securities in this State, or the…
2Cases cited22 opinions
- McGuire v. Van PeltSupreme Court of Alabama · 1876
- Farrior v. New England Mortgage Security Co.Supreme Court of Alabama · 1889
- McCall v. McCurdySupreme Court of Alabama · 1881
- Butts v. BroughtonSupreme Court of Alabama · 1882
- Falls v. United States Savings, Loan & Building Co.Supreme Court of Alabama · 1892
17 more not listed; retrieve them via the Exa API.
3Cited by12 opinions
- Carwile v. CrumpSupreme Court of Alabama · 1910
- Webb v. SprottSupreme Court of Alabama · 1932
- Taylor v. JonesSupreme Court of Alabama · 1973
- Planters' Warehouse & Commission Co. v. BarnesSupreme Court of Alabama · 1934
- Burns v. AustinSupreme Court of Alabama · 1932
7 more not listed; retrieve them via the Exa API.