Taylor v. Hoffman, 7 Div. 271.
| Decision Date | 22 November 1934 |
| Docket Number | 7 Div. 271. |
| Citation | 157 So. 851,229 Ala. 420 |
| Court | Alabama Supreme Court |
| Parties | TAYLOR v. HOFFMAN et al. |
Appeal from Circuit Court, Shelby County; E. P. Gay, Judge.
Suit by W. T. Taylor, Jr., against Walter Hoffman, the Planters' Chemical Oil Company, and W. L. Dumas for an accounting and cancellation of a mortgage or enforcement of complainant's equity of redemption, in which defendants oil company and Dumas filed a cross-bill and defendant Hoffman petitioned for appointment of a receiver. From an order or decree appointing a receiver, complainant appeals.
Reversed and rendered.
Paul O Luck, of Columbiana, for appellant.
L. H Ellis, of Columbiana, for appellee.
Bill by mortgagor against mortgagee, and others who claim portions of the mortgage indebtedness, for an accounting, a cancellation of the mortgage, and for the enforcement of the equity of redemption in the alternative as to so much of the mortgage debt as may be due. It seems that the mortgage indebtedness was evinced by a series of installment notes, some claimed by W. L. Dumas and Planters' Chemical Oil Company, each of whom have answered the bill and by cross-bill concur in an equitable accounting and a foreclosure of the mortgage by the court, and the adjustment and satisfaction out of the proceeds of the sale of the respective claims of the interested parties in case the same are not paid by the complainant mortgagor.
It appears that this mortgagee, Hoffman, who then owned only a portion of the mortgage debt, proceeded to foreclose the mortgage under the power of sale and which said sale was made after the present bill was filed, and subsequently petitioned the court to appoint a receiver to take charge of the property, or some of it, chiefly a ginnery, and operate it for the benefit of said Hoffman, mortgagee and purchaser of the property at the mortgage sale. This upon the theory that he, as said purchaser, is entitled to the income and profits for the use of said property. While the petition and accompanying affidavit sets forth the insolvency of Taylor the mortgagor, there is neither averment nor proof that the property is inadequate to satisfy the mortgage debt certainly so much thereof as claimed by Hoffman, who the pleading shows made the transfers of the other installments subject to the ones retained by him. In other words, from aught appearing, the property is amply sufficient to satisfy...
To continue reading
Request your trial
-
Union Central Life Ins. Co. of Cincinnati, Ohio, v. Thompson
...sale. McDermott et al. v. Halliburton et al., 219 Ala. 659, 123 So. 207; Brown et al. v. Bell, 206 Ala. 182, 89 So. 659; Taylor v. Hoffman et al. (Ala. Sup.) 157 So. 851. discover no reversible error on the record. Affirmed. ANDERSON, C.J., and THOMAS and KNIGHT, JJ., concur. ...
-
Preuit v. Wallace
...189 So. 887 238 Ala. 162 PREUIT v. WALLACE ET AL. 8 Div. 974.Supreme Court of AlabamaJune 15, 1939 ... Halliburton, ... 219 Ala. 659, 123 So. 207; Taylor v. Hoffman, 229 ... Ala. 420, 157 So. 851; McDermott v ... ...
-
Dart v. Western Sav. & Loan Ass'n
...property, see Garden Homes, Inc. v. United States, 1 Cir., 200 F.2d 299; Parker v. Williams, 230 Ala. 437, 161 So. 512; Taylor v. Hoffman, 229 Ala. 420, 157 So. 851; 82 A.L.R.2d 1075n; Planters Oil Mill v. Carter, 140 Ga. 808, 79 S.E. 1120; Cross v. Will County Nat. Bank, 177 Ill. 33, 52 N.......
-
Garland v. First Nat. Bank
... ... 597 GARLAND v. FIRST NAT. BANK OF SCOTTSBORO. 8 Div. 718Supreme Court of AlabamaFebruary 20, 1936 ... mortgagor's insolvency. Taylor v. Hoffman et ... al., 229 Ala. 420, 421, 157 So. 851; ... ...