Loving v. Bridewell

Citations

• 126 Miss. 134
• 88 So. 505

Syllabus

<p>Mortgages. • Contract to sell real estate construed not to he an equitable * mortgage.</p> <p>Where: parties were in litigation over property,' and it is agreed that in consideration of an agreement, to sell with warranty, at a given price to he paid on a given day, the seller can take judgment in the pending suits adjudging title in himself with stay of execution until the day named for the consummation of the contract, and said agreement provides that, if not performed by said date, the contract would be void, and where by subsequent agreement the time was extended in which to meet said agreement on condition that certain property be put up as a forfeit ' in case the agreément was not performed, said forfeited property to be held as liquidated damages in case of failure to carry out the agreement, such contract is an agreement to convey, and not an equitable mortgage.</p>