Thompson v. Houze

Citations

• 48 Miss. 444

Syllabus

<p>1. Equity jurisdiction — mortgage with power of sale. — When a mortgage contains a power to the mortgagee to sell the mortgaged premises, that power does not preclude the equitable remedy of foreclosure. The utmost that can be said is, that the power of sale is cumulative to the remedy by foreclosure. But on the contrary, so peremptory is the remedy by sale, so great the temptation to act oppressively or unfairly, and so completely is the debtor in the power of his creditor, that courts of equity will watch the proceedings very closely, and, on very slight cause, will construe the sale strictly against the mortgagee. And it is upon such considerations that this court, while upholding the power of sale as valid, has commended foreclosure in chancery as the better practice.</p>