Wofford v. Board Police of Holmes County

Citations

• 44 Miss. 579

Syllabus

<p>1. Chancees jurisdiction — Moetgage with foweb oe sale. — W.,in July, 1860, borrowed a sum of money from D., president of the board of polioe, and to seoure payment, executed to D. in his official character, a deed of trust, on certain lands with power of sale. Part of the moneyremained unpaid; and in the meantime A. & 0., had obtained possession of the land under color of title. Held: That D. had a clear right to file his bill in chancery,'against W. and sureties, and against A. & 0., to enforce a sale of the land, and payment of the amount due him.</p> <p>2. Effect of sale by gbantee — Equity of redemption. — In a mortgage by the grantor to a grantee with power of sale in the latter, an equity of redemption remains with the grantor, which a sale and conveyance of the land by the grantee would not pass. Hence, the right of resorting to chancery in order to subject the entire interest in the land, to the satisfaction of the debt. 1 Barn. & Oresr., 364; 2 Sim. & Sta., 323; 1 Rand., 310.</p> <p>3. Clouds on title. — A. & 0. were in possession of the premises, setting up some claim to them. The creditor had a right to present to bidders at the sale, an estate disembarrassed of all conflicting or pretended claims; and in order that his security might be available, he had a right to bring these parties into court, and to have their claims investigated and clouds removed, so that the estate might bring its full value.</p> <p>4. Lost note — Indemnity against. — Where resort is had to chancery to compej payment of a bond or note alleged to be lost or destroyed, it is not necessary to tender in the bill indemnity against such bond or note, because the obligor or maker of such instrument cannot, under the statute, be endangered by tho subsequent finding thereof.</p> <p>5. Legal behedy on lost note. — In this state it is held that an action at law oan be maintained on a los t note, because by our statute, whoever derives title to it under the payee, takes it subject to all