Reports of Cases Argued and Determined in the Supreme Courtof Alabama Volume 25 (Paperback)

This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1907 Excerpt: ... the sum ot $24, and received the sheriffs deed. Prior to the rendition of the judgments at law under which the land was sold, McNaughton had mortgaged it to Barron, Meade & Co., by deed dated the 17th August. 1816, to secure the payment of a promissory note for $395, dated the 5th July, 1846, and payable sixty days after date. This mortgage contained a power of sale in the event the note was not paid on or before the 1st of Jainiary. 18-17. The complainant claimed the right to redeem the premises, 1st. as the assigiiee of several of the judgments at law, which were still unsatisfied; and 2dly, as the assigiice of the mortgagor's equity of redemption; and he alleged in his bill a tender and refusal, in accordance with the requisitions of the statute. An amended bill was afterwards flied, asking an injunction of a judgment at law which said Lucien Meade had recovered against complainant, in a statutory action of debt, for cutting trees on the mortgaged lniids. The defendants filed answers, alleging that the complainant had no right to redeem. in' either of the capacities in which he asserted the right, because he had failed to make such. a tender as the statute requires. On final hearing. on pleadings and proof, the chancellor dismissed the bill, but without prejudice; and his decree is now assigned. as error. For prior opinion, see 2% Ala. 5(l5. For subsequent opinion, see 38 Ala. 292. Goldthwalte 8: . Semple, for the appellants. Wm. M. Brooks, contra. RICE, C. J.--The act of 1820 declared, that "the equitable title or claim to land or other real estate" should thereafter "be liable to the payment of debts, by suit in chancery, and not 0tIierwise."--Clay's Dig. 350, 31. That provision of the act was of full force...