Bird & Co. v. Kendall

Citations

• 62 S.C. 178

Syllabus

<p>1. Pleadings. — Usury will not be considered unless raised by pleadings, and is a plea personal to mortgagor and cannot be interposed by others.</p> <p>2. Usury. — B. & L. Assn, cannot be required by junior mortgagee to credit dues, usurious interest, premiums and fines received by it from borrower on his debt in absence of stipulations to that effect in the contract.</p> <p>3. B. & L. Assn. — Debtor and Creditor. — When a member of a B. & L. Assn, borrows money therefrom, pledging his stock to secure its payment, he practically ceases to be a member of the association, and the relation between him and the association is that of debtor and creditor.</p> <p>4. Attorney’s Fees. — In foreclosure by junior mortgagee against mortgagor and senior mortgagee, provision for attorney’s fees applies, and they are properly included in amount due senior mortgagee.</p>