Hambrick v. New England Mortg. Security Co.

• Decision Date: 27 July 1893
• Parties: HAMBRICK v. NEW ENGLAND MORTGAGE SECURITY CO.
• Court: Alabama Supreme Court

13 So. 778

100 Ala. 551

HAMBRICK v. NEW ENGLAND MORTGAGE SECURITY CO.

Supreme Court of Alabama

July 27, 1893

Appeal from circuit court, Madison county; H. C. Speake, Judge.

Action by the New England Mortgage Security Company against Joseph M. Hambrick to recover possession of land. Judgment for plaintiff. Defendant appeals. Affirmed.

Humes Sheffey & Speake and A. J. Bentley, for appellant.

Caldwell Bradshaw and D. Irvin White, for appellee.

HARALSON J.

On the 25th March, 1887, the appellant, the defendant below executed a mortgage on lands therein described to secure to appellee, plaintiff below, the sum of $3,600 that day loaned to defendant by plaintiff. The note was payable on the 25th March, 1892, and, for the accruing interest, five coupon notes were attached to said principal note,-the first for $196, payable on 1st December, 1887; three others, for $250 each, payable, respectively, on the 1st days of December 1888, 1889, and 1890; and the last, for $380, payable on the 25th of March 1892,-the date of payment of the principal debt. The mortgage contained the stipulation that if the mortgagor should make default in the payment of said note, or of any coupon thereto attached, within 20 days after the same became due, the whole sum of money secured should, at the option of the holder of said note, become due and payable at once, and the mortgagee, its agent, attorney, or assignee might enter upon and take possession of the lands described in the mortgage, and proceed to sell the same in a manner and on terms therein provided. On the 6th of April, 1891, after having advertised the lands for public sale under the power in the mortgage, and in the manner specified therein, the plaintiff sold said lands in Huntsville, Ala., to the highest bidder for cash, and itself became the purchaser of them, through its attorney, D. I. White, at the sum of $3,690, but no conveyance seems to have been made under said sale. On the 24th February, 1892, the appellee brought this action in the circuit court of Madison county against the appellant to recover the possession of said lands. The defendant pleaded not guilty, which was the only plea interposed, so far as appears. On the trial of the cause the mortgage and notes were introduced and read in evidence by the plaintiff, and the sale under the power in the mortgage, as above stated, was shown. Judgment was rendered for the plaintiff for the possession of...