Bacot v. Varnado
Mississippi Supreme Court
Erom the chancery court of Pike county. Hon. J. S. Hicks, Chancellor. Bacot and others, copartners doing business under the firm name of Atkinson Bacot Co., appellants, were complainants in the court below; Vamado and others, appellees, were defendants there. Erom a decree awarding complainants relief in part they appealed to the supreme court and the defendants prosecuted a cross-appeal.
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Erom the chancery court of Pike county. Hon. J. S. Hicks, Chancellor. Bacot and others, copartners doing business under the firm name of Atkinson Bacot Co., appellants, were complainants in the court below; Vamado and others, appellees, were defendants there. Erom a decree awarding complainants relief in part they appealed to the supreme court and the defendants prosecuted a cross-appeal. On the 28th day of April, 1892, Ellis M. Varnado and Anna B. Varnado, his wife, being indebted to complainants in the sum of $746.64, executed their promissory note for said sum, and to secure same executed…
1Opinion of the CourtWhitfield, C. J.
The general doctrine that a valid mortgage may be executed to pass after-acquired property is too well settled to require citation of authorities. The precise question presented for decision on this record is simply this: Can husband and wife execute a mortgage on an after-acquired homestead, which shall be good to bind that after-acquired homestead when it comes into existence ? Some things are perfectly clear:
First. ■ A man may execute a mortgage, good at law or in equity, on what he now actually owns.
Second. A man may execute a mortgage, good at law or in equity, on what he does not now…
2Cases cited4 opinions
- Trotter v. DobbsMississippi Supreme Court · 1859
- Everman v. RobbMississippi Supreme Court · 1876
- White v. ThomasMississippi Supreme Court · 1876
- J. Stadeker & Son v. LoebMississippi Supreme Court · 1889
3Cited by8 opinions
- Newton County Bank, Louin Branch Office v. JonesMississippi Supreme Court · 1974
- Walters v. Merchants & Manufacturers BankMississippi Supreme Court · 1953
- Davis v. CrawfordMississippi Supreme Court · 1936
- Walters v. M. & M. BANK OF ELLISVILLEMississippi Supreme Court · 1953
- Myers v. DaughdrillMississippi Supreme Court · 1932
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