Ray v. Tatum
Court of Appeals for the Fifth Circuit
Appeal from the Circuit Court of the United States for the Northern District of Georgia. This was a bill by Eleanor Tatum against Lavender R. Ray to foreclose, as a mortgage,’ a deed absolute in form. In the circuit court there was a decree for complainant. 69 Fed. 682. Defendant appeals.
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Appeal from the Circuit Court of the United States for the Northern District of Georgia. This was a bill by Eleanor Tatum against Lavender R. Ray to foreclose, as a mortgage,’ a deed absolute in form. In the circuit court there was a decree for complainant. 69 Fed. 682. Defendant appeals. The material facts were as follows: On March 1, 1893, the defendant executed to Charles A. Francisco his promissory note for $3,500, due five years after date, together with 10 coupon interest notes for $122.50 each, due semiannually, on the 1st days of March and September of each year. The principal and…
1Opinion of the Court
McCORMICK, Circuit Judge.
The promissory note, the deed, and the bond to reconvey evidence one transaction, must be construed together, and expressly show that the conveyance of the land was to secure the payment of the debt evidenced by the note. It is too plain to admit of argument that the transaction was a borrowing of money, and giving a lien on land to secure the loan. This is a mortgage. The grantee in such a mortgage, having the right to resort to the national courts, can proceed in equity in those courts to foreclose the equity of redemption. The terms of the instruments or of the…
2Cases cited3 opinions
- Russell v. SouthardSupreme Court of the United States · 1851
- Hughes v. EdwardsSupreme Court of the United States · 1824
- Shillaber v. RobinsonSupreme Court of the United States · 1878
3Cited by7 opinions
- Pusser v. ThompsonSupreme Court of Georgia · 1909
- British & American Mortgage Co. v. WorrillU.S. Circuit Court for the Northern District of Georgia · 1909
- Merrihew v. FortU.S. Circuit Court for the District of Georgia · 1899
- Ryals v. LindsaySupreme Court of Georgia · 1932
- In re R. H. Elrod & SonDistrict Court, N.D. Georgia · 1913
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