Cunningham Bros. Woolen Co. v. Atlanta National Building & Loan Ass'n

Citations

• 73 Miss. 516

Syllabus

<p>1. Privilege Taxes. Contract toilh delinquent. Stranger to contract. Validity of same. Code 1880, ?¿ 589 (Code 1892, $ 3401).</p> <p>Contracts made with one who has violated the law in reference to privilege taxes are not void absolutely, under § 589, code 1880 (§ 3401, Code 1892), but by the terms of the statute are void so far only as the delinquent may seek to base a claim on the same or to sue thereon, and, the statute being highly penal, cannot be extended beyond its terms. It cannot be invoked by a stranger to a contract, the enforcement of which is assented to by the parties. Peoples’ Ba/nli v. Railroad Co., 65 Miss., 365; Crum v. Carrington Shoe Co., 72 lb., 458, cited.</p> <p>2. Same. Deed of trust. Injunction. Case. Laws 1890, p. 10.</p> <p>The beneficiary of a deed of trust has no right to enjoin a sale under a prior deed of trust executed by the same grantor upon the same property, on the ground that the beneficiary of such prior deed of trust, when it took the same, was doing business as a building association without having paid the privilege tax or obtained the license specified in the statute relative thereto. Laws 1890, p. 10.</p>