Meares v. . Duncan
Supreme Court of North Carolina
'Civil action for foreclosure of mortgage executed to the Building & Loan Association by Emily F. Duncan and her husband, tried before Adams, J., at March Term, 1898, of Superior Court of Carteret County. Emily F. Duncan became a stockholder in the Company and also a borrower of $1,000, for which she and her husband gave their note, with a mortgage on her land to secure it. The Company failed and went into the hands of the plaintiffs as receivers.
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'Civil action for foreclosure of mortgage executed to the Building & Loan Association by Emily F. Duncan and her husband, tried before Adams, J., at March Term, 1898, of Superior Court of Carteret County. Emily F. Duncan became a stockholder in the Company and also a borrower of $1,000, for which she and her husband gave their note, with a mortgage on her land to secure it. The Company failed and went into the hands of the plaintiffs as receivers. Its liabilities, and costs and charges of winding up amount to 30 per cent, of its assets. The defendant, Emily F. Duncan, claims that by reason of…
1Opinion of the Court
Furches, J.:
The defendant Emily F. Duncan became one of the stockholders and incorporators of the “Inter-State Building and Loan Association of Wilmington”; that she subscribed for $1,000 of the capital stock of said concern which was issued to her ; that she then borrowed $1,000 in money from said Association, and she and her husband W. B. Duncan executed their bond and obligation to said Association therefor. And at the same time, the defendant W. B. Duncan and his wife, the said Emily F., made and executed a mortgage on the real estate of the said Emily F., to secure the payment thereof.
Thi…
2Cases cited3 opinions
- Strauss v. Carolina Inter-State Building & Loan Ass'nSupreme Court of North Carolina · 1895
- Strauss v. Carolina Interstate Building & Loan Ass'nSupreme Court of North Carolina · 1896
- Thompson v. North Carolina Building & Loan Ass'nSupreme Court of North Carolina · 1897
3Cited by9 opinions
- Groover v. Pacific Coast Sav. SocietyCalifornia Supreme Court · 1912
- New Bern Building & Loan Ass'n v. BlalockSupreme Court of North Carolina · 1912
- Flint v. A. B. Culbertson, Receiver for Fraternal Bank & Trust Co.Texas Supreme Court · 1958
- Meares v. . Improvement Co.Supreme Court of North Carolina · 1900
- First National Bank v. RigginsSupreme Court of North Carolina · 1899
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