Lubroline Oil Co. v. Athens Savings Bank
Supreme Court of Georgia
Exceptions to decree. Before Judge Hutchins. Clarice superior court. April term, 1897. On March 30, 1895, the Athens Savings Bank, the Jellico Coal Co., and others filed an equitable petition against the Athens Gas Light Co., the Lubroline Oil Co., and C. M. Wood-bury, receiver, etc.
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Exceptions to decree. Before Judge Hutchins. Clarice superior court. April term, 1897. On March 30, 1895, the Athens Savings Bank, the Jellico Coal Co., and others filed an equitable petition against the Athens Gas Light Co., the Lubroline Oil Co., and C. M. Wood-bury, receiver, etc. It was alleged in the petition, and proved at the trial, that the Athens Savings Bank held, as collateral security for its debt, certain bonds of the Gas Light Co., secured by a trust deed or mortgage it had executed to the Mercantile Trust & Deposit Co. of Baltimore, as trustee, and that several series of the…
1Opinion of the CourtFish, J.
(After stating the foregoing facts.) 1. The view that we take of the law of this case makes it unnecessary to deal with the second and third assignments of error. The trust deed from the Athens Gas Light Co. to the Mercantile Trust and Deposit Co. contained a defeasance clause, and must be considered a mortgage. Pirkle v. Equitable Mortgage Co., 99 Ga. 524; Ward v. Lord, 100 Ga. 407. Besides, it was so recognized and foreclosed in this case by the Mercantile Trust & Deposit Co. and the beneficiaries under the instrument. As the mortgagee did not elect to take possession .of the property under…
2Cases cited6 opinions
- Green v. Coast Line RailroadSupreme Court of Georgia · 1895
- Ward v. LordSupreme Court of Georgia · 1897
- Pirkle v. Equitable Mortgage Co.Supreme Court of Georgia · 1896
- Georgia Southern & Florida Railway Co. v. BartonSupreme Court of Georgia · 1897
- Lang v. Macon Construction Co.Supreme Court of Georgia · 1897
1 more not listed; retrieve them via the Exa API.
3Cited by14 opinions
- Thomas v. HudsonSupreme Court of Georgia · 1940
- Durant v. Duchesse D'AuxySupreme Court of Georgia · 1899
- Penton v. HallSupreme Court of Georgia · 1913
- Hogg v. FullerCourt of Appeals of Georgia · 1916
- Jackson v. ParksCourt of Appeals of Georgia · 1934
9 more not listed; retrieve them via the Exa API.