Troy v. Smith & Shields
Supreme Court of Alabama
Appeal from the Chancery Court of Dallas. Heard before the Hon. James B. Clark. The bill in this case was filed by the appellees, as creditors of Charles K. Walker, and sought to foreclose a mortgage on two slaves, which the said Walker had executed to his sureties on the notes due to complainants, to indemnify them against liability thereon.
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Appeal from the Chancery Court of Dallas. Heard before the Hon. James B. Clark. The bill in this case was filed by the appellees, as creditors of Charles K. Walker, and sought to foreclose a mortgage on two slaves, which the said Walker had executed to his sureties on the notes due to complainants, to indemnify them against liability thereon. The notes were due on the 1st July, 1855, and the mortgage contained a power of sale in the event of any default being made in their payment. The mortgage was executed on the 20th October, 1854, and was duly proved and recorded on the 15th November…
1Opinion of the Court
WALKER, J.—
The bill in this case was filed by creditors, for the foreclosure of a mortgage on personal property, given by the principal debtor for the indemnity of one of the sureties. The complainants have a right to the benefit of the mortgage given by their principal debtor for the benefit of a surety on their debt, and may maintain a bill in chancery for the enforcement of the mortgage in their favor.—Toulman v. Hamilton, 7 Ala. 362; Ohio Life Ins. Co. v. Ledyard, 8 Ala. 866. The surety in this case assigned his mortgage to the creditors, who file the bill. While this fact may not…
2Cases cited14 opinions
- Snodgrass v. Branch Bank at DecaturSupreme Court of Alabama · 1854
- Ohio Life Insurance & Trust Co. v. LedyardSupreme Court of Alabama · 1846
- Firemen's Insurance v. McMillanSupreme Court of Alabama · 1856
- Branch Bank at Decatur v. KinseySupreme Court of Alabama · 1843
- Toulmin v. HamiltonSupreme Court of Alabama · 1845
9 more not listed; retrieve them via the Exa API.
3Cited by20 opinions
- Yeend v. WeeksSupreme Court of Alabama · 1893
- Scott v. WareSupreme Court of Alabama · 1879
- Lawson v. Alabama Warehouse Co.Supreme Court of Alabama · 1882
- Dixie Grain Co. v. QuinnSupreme Court of Alabama · 1913
- Preslar v. StallworthSupreme Court of Alabama · 1861
15 more not listed; retrieve them via the Exa API.