Newburger & Korg v. Perkins ex rel. Perkins

Citations

• 62 Miss. 584

Syllabus

<p>Deed of Trust. Stipulation for diversion of payments. Case in judgment.</p> <p>Where it is stipulated in a deed of trust upon land and cotton to secure a specified debt that the cestui que trust may apply any payments in money or the proceeds of any cotton delivered to him to the satisfaction of the debt secured, or “to the payment of any indebtedness which may be now due or •which may hereafter become due to him upon open account,” by the grantor, as he may elect, such stipulation is valid and may be carried out according to its terms by the cestui que trust.</p>