People's Bank v. Steinhart
Supreme Court of Alabama
Appeal from Butler Chancery Court. Heard before Hon. L. D. Gardner. Bill by Pauline Steinhart against the People’s Bank of Greensboro, to cancel certain mortgages and notes alleged to have been given to secure the debt of the husband. Decree for complainant, and respondent appeals.
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Appeal from Butler Chancery Court. Heard before Hon. L. D. Gardner. Bill by Pauline Steinhart against the People’s Bank of Greensboro, to cancel certain mortgages and notes alleged to have been given to secure the debt of the husband. Decree for complainant, and respondent appeals. The bill alleges that in July, 1908, complainant was in possession and owned in her individual right certain real estate situated in the town of Greenville, and on July 8, 1908, her husband, A. Steinhart, being indebted to the People’s Bank of Greensboro in the sum of $1,000, in order to secure payment of said…
1Opinion of the Court
ANDERSON, J. —
Section 4497 of the Code of 1907 provides that the wife shall not, directly or indirectly, become the surety for her .husband. We think that the evidence in this case shows that it ivas the purpose and intention of the complainant’s husband and the respondent bank that the proceeds of the mortgages in question should be used as an indirect security for the debt of the husband or of his grocery company, although it may in form appear to be a straight loan to the wife and a subsequent placing by her, of the proceeds to the credit of her husband. The decree of the chancery court'…
2Cases cited3 opinions
- Lamkin v. LovellSupreme Court of Alabama · 1912
- Elkins v. Bank of HenrySupreme Court of Alabama · 1912
- Interstate Bank v. WesleySupreme Court of Alabama · 1912
3Cited by8 opinions
- Vinegar Bend Lumber Co. v. LeftwichSupreme Court of Alabama · 1916
- Mitchell v. Sessoms Grocery Co.Supreme Court of Alabama · 1933
- Continental Life Ins. Co. v. BrandtSupreme Court of Alabama · 1934
- Ex Parte LacySupreme Court of Alabama · 1936
- Trost v. BeckSupreme Court of Alabama · 1924
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