Buchanan v. Carolina Mortgage Co.

The appellants rest their case under the shadow of the ancient maxim of the law that “he who seeks equity must do equity.”

One who obtains a loan from another and executes a mortgage or deed of trust on his property to secure the payment of the debt may not be heard in a court of equity to enjoin the sale of his property for the nonpayment of his debt on the ground of usury until he has first paid or tendered the amount of his debt with interest at the legal rate. He must pay or tender payment of his just debt before a court of equity will come to his relief. Waters v. Garris, 188 N. C., 305,…