Peoples' Building & Loan Ass'n v. McElroy
Mississippi Supreme Court
Froai the chancery court of Lauderdale county. Hon. W. T. Houston, Chancellor. Appellees, M. G. and I. K>. McElroy, filed this bill against the Peoples’ Building & Loan Association to enjoin the foreclosure of a trust-deed, and to cancel the same, and for an accounting.
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Froai the chancery court of Lauderdale county. Hon. W. T. Houston, Chancellor. Appellees, M. G. and I. K>. McElroy, filed this bill against the Peoples’ Building & Loan Association to enjoin the foreclosure of a trust-deed, and to cancel the same, and for an accounting. The facts necessary to an understanding of the questions decided by the court, briefly stated, are as follows: In August, 1887, appellees, M. G. McElroy and I. E. McElroy, bid off a loan of $1,800 offered by the Peoples’ Building & Loan Association, in which M. G. McElroy was stockholder, at a premium amounting to $693. They…
1Opinion of the CourtWoods, J.
The opinion of this court in the case of Sullivan v. Building & Loan Association, 70 Miss., 94, and our affirmance of the decree of the chancellor on the second appeal of the same case to the March term, 1894, of this court, will largely control the present controversy.
The appellees were entitled to no cancellation of what now seems to them a hard contract, and they had not, when their bill was filed, or when their cause was heard and determined in the chancery court, or now, ceased to be members of the loan *441association, and they were and are bound to perform their contract according to the…
2Cases cited1 opinion
- Sullivan v. Jackson Building & Loan Ass'nMississippi Supreme Court · 1892
3Cited by1 opinion
- Building & Loan Ass'n v. LeonardMississippi Supreme Court · 1897