Cullum v. Emanuel
Supreme Court of Alabama
This case comes here from the chancery court, holden at Mobile. THE plaintiff in. error, who was complainant below, states in his bill that the defendants Emanuel fy Gaines, on the ninth day of May IS34, sold to Stephen Y. Y. Schuyler and James F. Roberts, certain real estate situate in the city of Mobile, and took from each of them ten separate promissory notes for the payment of the purchase money, payable in one, two, three, four, five, six, seven, eight, nine and ten…
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This case comes here from the chancery court, holden at Mobile. THE plaintiff in. error, who was complainant below, states in his bill that the defendants Emanuel fy Gaines, on the ninth day of May IS34, sold to Stephen Y. Y. Schuyler and James F. Roberts, certain real estate situate in the city of Mobile, and took from each of them ten separate promissory notes for the payment of the purchase money, payable in one, two, three, four, five, six, seven, eight, nine and ten years from their date. Thefournotes first payable, made by Schuyler, were endorsed by the plaintiff", and the four notes of…
1Opinion of the CourtCollier, C. J.
— In the argument of this cause two points have been made for the plaintiff:
1. That the mortgage operates in equity, as a lien upon the property embraced by it for the payment of all the notes made by Schuyler and Roberts — that the notes are entitled to priority of satisfaction from this security in the order in which they fall due. And that, inasmuch as the plaintiff upon payment of either of the notes in which he may be a surety, might resort to the mortgage for indemnification, equity will dispense with this circuity by requiring Emanuel & Gaines to seek a satisfaction from that source in…
2Cases cited1 opinion
- Gwathmeys v. RaglandSupreme Court of Virginia · 1823
3Cited by17 opinions
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- White's Adm'r v. Life Ass'n of AmericaSupreme Court of Alabama · 1879
- Bankers Surety Co. v. LinderSupreme Court of Iowa · 1912
- Powell v. WilliamsSupreme Court of Alabama · 1848
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