Gwin v. National Building & Loan Ass'n
Supreme Court of Alabama
Appeal from the City Court of Gadsden. . Tried before the Hon. John H. Disque. The facts necessary to be here set out are these: The plaintiff, Mattie Gwin, became a stockholder in the National Building & Loan Association, and borrowed from the association one thousand, dolars, to secure the payment of which she and her husband executed a mortgage on her property.
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Appeal from the City Court of Gadsden. . Tried before the Hon. John H. Disque. The facts necessary to be here set out are these: The plaintiff, Mattie Gwin, became a stockholder in the National Building & Loan Association, and borrowed from the association one thousand, dolars, to secure the payment of which she and her husband executed a mortgage on her property. After holding said stock for over four years, and paying the premium, dues and interest thereon, she and her husband demanded that the association enter the payments on the margin of the record of the mortgage, and on its failure…
1Opinion of the CourtTyson, J.
— Partial payments made by „a mortgagor upon the mortgage debt must be such as he is entitled to have applied to the satisfaction of the debt pro tanto at the time he makes the demand of the mortgagee to enter them upon the margin of the record of the mortgage. If this right is undeterminable or dependent upon an act to be performed in the future, at the date of the making of this demand, he cannot maintain an action under section 1065 of the Code against a mortgagee who fails or refuses to make the entry after demand in writing within the time prescribed.
The appellants became members of the…
2Cases cited1 opinion
- Southern Building & Loan Ass'n v. Anniston Loan & Trust Co.Supreme Court of Alabama · 1893
3Cited by1 opinion
- Southwestern Building & Loan Ass'n v. RoweSupreme Court of Alabama · 1899