Holmes v. McGinty

Citations

• 44 Miss. 94

Syllabus

<p>1. Husband and wife — Soeetyship—Moutoage—Assioniient.—Defendants, being husband and wife, executed a mortgage on proporty of the former, to sureties on his official bond as tax collector, to indemnify them against loss as such sureties. Thereupon the sureties advanced to their principal $8,000, each to settle his offieia liabilities, taking his notes alone for the amount, which notes contained those words: “Secured by mortgage on real and personal estate, against loss on my bond as tax ■^collector. ” On hill by assignees, to subject th'e mortgaged property to payment of the notes, it was Held: That the coverture of one of defendants, that she had not signed the notes, that'tho notes not being mentioned in the mortgage, that the money advanced to the other defendant by the mortgages bad been borrowed by them and not repaid, and that the transfer of the notes to the complainants was to defend their creditors, were all immaterial facts, constituting no defense.</p> <p>2. Moetoages — Notes—Assignment.—The assignment of promissory notes scoured by mortgage, is, in equity, an assignment of the mortgago, which follows the debt as its incident, for the benefit of whomsoever may own it.</p>