Overby v. Fayetteville Building & Loan Ass'n
Supreme Court of North Carolina
Civil Action heard upon. Exceptions to the report of a Referee at Spring Term, 1879, of Cumberland Superior Court, before McKoy, J. The plaintiff was a shareholder in defendant corpora-, tion, and upon the redemption of his stock by the association, he and the feme plaintiff joined in the execution of mortgage deeds to defendant to secure the performance of certain covenants and agreements.
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Civil Action heard upon. Exceptions to the report of a Referee at Spring Term, 1879, of Cumberland Superior Court, before McKoy, J. The plaintiff was a shareholder in defendant corpora-, tion, and upon the redemption of his stock by the association, he and the feme plaintiff joined in the execution of mortgage deeds to defendant to secure the performance of certain covenants and agreements. The plaintiff alleged that the defendant had advertised the mortgaged premises for sale, and asked for an order to restrain the same, upon the ground that the contract set out therein was usurious ; and…
1Opinion of the CourtSmith, C. J.
The plaintiff, W. Overby, became the owner at different times of eleven and of eight shares of stock in the defendant corporation which were subsequently redeemed by the association at the price of $1,210 for the first, and $800 for the last lot of shares. The contract of redemption, under the regulations of the association, requires the continued payment of monthly instalments on the shares and other dues from stockholders, and the payment of interest on $200, the full par value of each share of stock, at the rate of eight per cent, per annum, until by the accumulated profits that sum cau be…
2Cases cited9 opinions
- Story v. LivingstonSupreme Court of the United States · 1839
- Mills v. Salisbury Building & Loan Ass'nSupreme Court of North Carolina · 1876
- State ex rel. Armfield v. BrownSupreme Court of North Carolina · 1874
- Wilson Miller v. . DerrSupreme Court of North Carolina · 1873
- Atkinson v. . WhiteheadSupreme Court of North Carolina · 1877
4 more not listed; retrieve them via the Exa API.
3Cited by18 opinions
- Meroney v. Atlanta Building & Loan Ass'nSupreme Court of North Carolina · 1895
- Southern Building & Loan Ass'n v. Anniston Loan & Trust Co.Supreme Court of Alabama · 1893
- Rowland v. Old Dominion Building & Loan Ass'nSupreme Court of North Carolina · 1894
- Yelverton v. . ColeySupreme Court of North Carolina · 1888
- Pioneer v. CannonTennessee Supreme Court · 1896
13 more not listed; retrieve them via the Exa API.