Barclift v. Fields
Supreme Court of Alabama
Appeal from Blount Chancery Court. Heard before Hon. John C. Carmichael. This was a bill filed by Fields to enjoin the foreclosure sale'of certain land under mortgages executed by him to Mrs. Fields, and for the cancellation of the mortgage, it is alleged in the bill that Fields borrowed from Mrs. Barclift a" certain sum of money and agreed to pay her 12J per cent interest for the use of the money, and that he executed this mortgage to secure the same.
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Appeal from Blount Chancery Court. Heard before Hon. John C. Carmichael. This was a bill filed by Fields to enjoin the foreclosure sale'of certain land under mortgages executed by him to Mrs. Fields, and for the cancellation of the mortgage, it is alleged in the bill that Fields borrowed from Mrs. Barclift a" certain sum of money and agreed to pay her 12J per cent interest for the use of the money, and that he executed this mortgage to secure the same. He alleges that the payments made together with interest paid at the above rate is more than the principal sum borrowed. There is no offer in…
1Opinion of the CourtWeakley, C. J.
The bill was filed for redemption from a mortgage executed on March 21, 1895, and also *266sought relief from usurious interest ripon the debt secured. There was no offer in the bill to pay interest at the regular rate, and the decree relieved complainant from paying any interest. The law in force when the mortgage; was executed declared that usurious contracts could not be enforced, “except as to the principal.”— Code 1886, § 1754. Under the law then and therefore existing it was settled that, in a suit by a lender of money for the enforcement of the contract to repay, either in a court of…
2Cases cited3 opinions
- Lindsay v. United States Savings & Loan Co.Supreme Court of Alabama · 1899
- Hawkins v. PearsonSupreme Court of Alabama · 1892
- Turner v. Merchants BankSupreme Court of Alabama · 1899
3Cited by15 opinions
- Lewis v. HickmanSupreme Court of Alabama · 1917
- McCormick v. FallierSupreme Court of Alabama · 1931
- Jones v. MeriwetherSupreme Court of Alabama · 1919
- Larson v. State Ex Rel. PattersonSupreme Court of Alabama · 1957
- Hodges v. WestmorelandSupreme Court of Alabama · 1923
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