Western Land & Cattle Co. v. National Bank

— This matter is before the court on a motion for rehearing. The facts were fully stated in the previous opinion, and need not be repeated at this time. In that opinion we laid down two general propositions of law: First, that the general equity of redemption of a mortgagor under our statutes expired ipso facto on the day. of sale, and could not be extended by the court beyond such day; and second, that where in one judgment a first and second mortgage were foreclosed, and a single order of sale made, with directions for the application of the proceeds, the junior mortgagee was not entitled…