Shiver v. Johnston
Supreme Court of Alabama
Appeal from Coffee Circuit Court. Tried before Hon. Henbx D. Claxton. This was an action of detinue, brought by the appellant, Samuel Shiver, against the appellee, W. T. Johnston, to recover certain personal property. On the trial, it was shown the property had been mortgaged by the appellee to appellant ; that the mortgage was past due, and that the property was in the possession of the appellee.
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Appeal from Coffee Circuit Court. Tried before Hon. Henbx D. Claxton. This was an action of detinue, brought by the appellant, Samuel Shiver, against the appellee, W. T. Johnston, to recover certain personal property. On the trial, it was shown the property had been mortgaged by the appellee to appellant ; that the mortgage was past due, and that the property was in the possession of the appellee. It was shown by the appellee, that the mortgage was given to secure the payment of two hundred dollars, lent by the appellent, at the rate of twenty-five per cent, per annum; that to secure the…
1Opinion of the CourtManning, J.
The payment of a debt, secured by a mortgage of personal chattels, operates as a satisfaction of the mortgage and extinguishment of the title it conveyed to the creditor. — Harrison v. Hicks, 1 Porter, 423, 431; 5 Stew. & Port. 91.
There is no dispute that according to the testimony, the note secured by the mortgage, was given to the appellant, who was plaintiff below, for money lent by him to appellee at the usurious rate of twenty-five per cent, per annum. The lender forfeited thereby his right to any interest. The debt was discharged by repayment of the sum borrowed.
One hundred and fifty…
2Cases cited1 opinion
- Harrison v. HicksSupreme Court of Alabama · 1835
3Cited by8 opinions
- Parker v. . BeasleySupreme Court of North Carolina · 1895
- Slaughter v. Doe ex dem. Swift, Murphy & Co.Supreme Court of Alabama · 1880
- Frank v. PickensSupreme Court of Alabama · 1881
- O'Connor v. Van HoyOregon Supreme Court · 1896
- Syson & Co. v. Hieronymus Bros.Supreme Court of Alabama · 1900
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