Malkove v. First National Bank of Mobile

FAULKNER, Justice.

Malkove appeals from a judgment of the Circuit Court of Mobile County. He alleges (1) the court erred in construing the future advance clause of a mortgage executed by Claude Gross, and Lee Anne Gross, to the Bank on September 11, 1969, and (2) the court erred in holding that a mortgage executed by the Grosses, on February 26, 1971, did not cancel the debt secured by the 1969 mortgage. The Bank cross-appeals from an order denying its motion to dismiss the appeal. We affirm in part, and reverse in part.

The Facts

On September 11, 1969, the Grosses borrowed $3,500 for business…