Building & Loan Ass'n v. Leonard
Mississippi Supreme Court
From the chancery court of Hinds county, first district. The facts are fully stated in the opinion. The question in this case was adjudicated in the case of the Natchez Building da Loan Associations.
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From the chancery court of Hinds county, first district. The facts are fully stated in the opinion. The question in this case was adjudicated in the case of the Natchez Building da Loan Associations. Shields, 71 Miss., 630. There, as here, there had been a settlement, and the former member, after receiving as much or more than he was entitled to, getting a rebate on the premium paid, and also the valuation of his stock, as augmented by like transactions with his fellow-members, proceeded upon a mistaken idea that the decision in the Sullivan case (70 Miss., 94) would allow a recovery of the…
1Opinion of the Court
Williamson, Special J.,
delivered the opinion of the court.
■ This appeal is from the chancery court of the first district of Hinds county. Leonard subscribed for six shares of the first series of stock in the Building & Loan Association of Jackson. The par value of each share of stock was $200. On June 10, 1886, he borrowed from the association $800 at a premium of 35-J per cent., which netted him $516 in cash, and executed his obligation to pay $800 and secured said obligation by trust deed on property in the city of Jackson. Again, on August 13, 1886, Leonard borrowed from the association…
2Cases cited4 opinions
- Natchez Building & Loan Ass'n v. ShieldsMississippi Supreme Court · 1893
- Goodman v. Durant Building & Loan Ass'nMississippi Supreme Court · 1893
- Sullivan v. Jackson Building & Loan Ass'nMississippi Supreme Court · 1892
- Peoples' Building & Loan Ass'n v. McElroyMississippi Supreme Court · 1894
3Cited by4 opinions
- Yazoo & Mississippi Valley Railroad v. WilliamsMississippi Supreme Court · 1905
- Shannon v. Georgia State Building & Loan Ass'nMississippi Supreme Court · 1901
- State v. Phoenix Loan Ass'nMissouri Court of Appeals · 1900
- Brown v. Redfield Building, Loan & Savings Ass'nSouth Dakota Supreme Court · 1943