Eastern Building & Loan Ass'n v. Bedford
U.S. Circuit Court for the District of Western Tennessee
In Equity. Bill to foreclose a mortgage. By an act of the legislature of the state of Tennessee of March 28, 1891 (chapter 2), entitled “An act to regulate the business of building and loan associations,” it was required that no building and loan association organized under the laws of another state should do business in Tennessee unless said association should deposit, and continually thereafter keep deposited, in trust for all its members and creditors, mortgages amounting…
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In Equity. Bill to foreclose a mortgage. By an act of the legislature of the state of Tennessee of March 28, 1891 (chapter 2), entitled “An act to regulate the business of building and loan associations,” it was required that no building and loan association organized under the laws of another state should do business in Tennessee unless said association should deposit, and continually thereafter keep deposited, in trust for all its members and creditors, mortgages amounting to not less than @25,000 or more than @50,000, at the discretion of the Treasurer. They were also required, before…
1Opinion of the CourtHammond, J.
(after stating the facts). The defense in this case is without' a particle of merit, the defendant having received nearly §5,000 of the plaintiff’s money upon a loan secured by a mortgage upon his property in the ordinary way of such transactions. There is no reason why he should not pay the money back, and no defense is offered except that the plaintiff, being a foreign corporation, had no right to make the loan until it had complied with certain administrative rules and regulations of the state of Tennessee concerning foreign corporations. Naturally, repudiation of a debt admitted to be…
2Cases cited40 opinions
- Yick Wo v. HopkinsSupreme Court of the United States · 1886
- Davidson v. New OrleansSupreme Court of the United States · 1878
- Allgeyer v. LouisianaSupreme Court of the United States · 1897
- Hooper v. CaliforniaSupreme Court of the United States · 1895
- Railway Co. v. McCarthySupreme Court of the United States · 1878
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3Cited by18 opinions
- Butler Bros. Shoe Co. v. United States Rubber Co.Court of Appeals for the Eighth Circuit · 1907
- Monaghan & Murphy Bank v. DavisArizona Supreme Court · 1925
- Frawley, Bundy & Wilcox v. Pennsylvania Casualty Co.U.S. Circuit Court for the District of Middle Pennsylvania · 1903
- Model Heating Co. v. MagaritySupreme Court of Delaware · 1911
- Kawin & Co. v. American Colortype Co.Court of Appeals for the Seventh Circuit · 1917
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