Fox v. Cottage Building Fund Ass'n

Citations

• 81 Va. 677
• 1885 Va. LEXIS 31

Syllabus

<p>1. Judgments and Decrees—Conclusiveness.—Decree of court of competent jurisdiction in a suit between proper parties, is valid and conclusive until reversed in some proper proceeding in same suit and same court, or on appeal in appellate court; unless on ground of fraud or surprise, injured party is entitled to relief in another suit.</p> <p>2. Deeds—Construction—^Building associations—Case at bar.— Borrower gave trust deed to secure loan. In event of default, deed prescribed sale for cash enough to pay expenses and amount due ; and as to residue, on such credit as trustee deemed proper. Sale was made May 1st, 1883, for cash enough to pay expenses and 8685.35, and 81,951.77. First sum was actually due. Last was the estimated amount for monthly dues and interest to accrue and become due between that day and the conjectural end, and the winding up of the association—</p> <p>Held :</p> <p>Sale should be for cash to pay expenses and 8685.33 ; and as to residue, on such credit as would make the payments meet and discharge the mdnthly dues and interest as they accrue and became due between May 1st, 1883, and the winding up of the association, whenever that might occur.</p>