Green v. Scottish-American Mortgage Co.

44 S.W. 319, 18 Tex. Civ. App. 286, 1898 Tex. App. LEXIS 69
CourtCourt of Appeals of Texas
DecidedFebruary 16, 1898
StatusPublished
Cited by1 cases

This text of 44 S.W. 319 (Green v. Scottish-American Mortgage Co.) is published on Counsel Stack Legal Research, covering Court of Appeals of Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Green v. Scottish-American Mortgage Co., 44 S.W. 319, 18 Tex. Civ. App. 286, 1898 Tex. App. LEXIS 69 (Tex. Ct. App. 1898).

Opinion

KEY, Associate Justice.

The Scottish-American Mortgage Company, Limited, brought this suit in the District Court of McLennan County against J. H. Green, Mary E. Green, Ed. D. Ennis, C. A. Rose, James B. Baker, John Baade, and A. R. Brelsford, to recover $225.71 principal, and interest due thereon, and to foreclose a lien on certain real estate. Hone of the defendants answered, and judgment by default was rendered against J. H. Green and A. R. Brelsford for $325.28,. and foreclosing the lien on the real estate as against all the defendants. The defendants J. H. Green and Mary E. Green have brought the case' to this court by writ of error.

Among others, the plaintiff’s petition contains the following averments: "That heretofore, to wit, on the first day of March, 1894, the defendant A. R. Brelsford executed and delivered to his codefendants Joe H. Green and Mary E. Green, for a valuable consideration, his two certain promissory notes, dated Waco, Texas, March 1, 1894, for the sum of one thousand ($1000) dollars each. The first note, by the terms thereof, was payable three years after date, to the order of Joe H. Green and Mary E. Green, at Waco, Texas, with interest thereon from *287 date until paid at the rate of 10 per cent per annum, payable semiannually as it accrues; and the second note, by the terms thereof, is payable four years after date to the order of Joe IT. Green and Mary E. Green, at Waco, Texas, with interest thereon from date until paid at the rate of 10 per cent per annum, interest payable semi-annually as it accrues. That said two notes were given for a part of the purchase money of a certain lot, situated in the city of Waco, county of Mc-Lennan, State of Texas, described as follows, to wit: 65 by 100 feet, off the FT. end of lots 8 and 9 in block 27, Waco, Texas; beginning at the intersection of alley and E. line of Fifth Street, at corner lot 8, block 27; thence along Fifth Street, S. 45 E. 65 feet; thence FT. 45 E. 100 feet to corner; thence FT. 45 W. 65 feet to corner of alley; thence along the same S. 45 W. 100 feet to beginning. The said above described land or lot was heretofore, to wit, on the first day of March, 1894, conveyed by Joe FT. Green and wife Mary E. Green to the defendant, A. E. Brelsford, by their deed of writing of that date, in consideration among other things of the notes herein above described, and that in said deed of conveyance a lien was reserved therein to secure the payment of said notes. Plaintiff says that said notes contain the following stipulations and agreements, to wit: It is understood and agreed that failure to pay this note or any installment of interest thereon when due shall, at the election of the holder thereof, or any of them, mature all the notes this day given by me, A. B. Brelsford, to said Joe FT. Green and Mary E. Green in the payment for said property. And said notes contain the further stipulation and agreement, that if the same are placed in the hands of an attorney for collection or if collected by suit, the maker thereof agrees to pay 10 per cent additional on the principal and interest then due as attorney’s fees.

“Plaintiff says that on, to wit, the first day of March, 1894, the date of the execution of the said notes, the said Joe FT. Green and Mary E. Green, for valuable consideration, transferred and assigned said notes to plaintiff by indorsing thereon their names in blank; whereby plaintiff became the owner and holder of said notes, and is now the owner and holder of them.

“Plaintiff says further that on, to wit, the first day of March, 1894, the said Joe FT. Green and Mary E. Green conveyed and transferred to plaintiff their whole remaining right and interest as vendors in the land above described which they had on said last named day conveyed to the defendant, A. E. Brelsford, meaning thereby to convey to plaintiff their paramount title as vendors to said property; whereby plaintiff became the owner of said paramount equitable title.

“Plaintiff further says, that on the first day of March, 1894, the defendants Joe FT. Green and Mary E. Green, his wife, borrowed of plaintiff one thousand ($1000) dollars, and in consideration thereof, they executed and delivered to plaintiff a principal note for said $1000 payable to the order of plaintiff on the first day of March, 1898, at the First FTational Bank, Waco, Texas, with exchange on FTew York, *288 fox one thousand dollars in United States gold coin, with interest thereon from date until paid at the rate of 10 per cent per annum, payable half-yearly on the first day of March and September of each year, according to the tenor of eight interest coupon notes, bearing even date with said principal note attached to the same and numbered from one to eight inclusive. Said coupon notes bear interest at the rate of 10 per cent per annum after maturity, with 10 per cent of the whole amount unpaid on said principal note and coupons for attorney’s fees, besides the court costs, if the holder of said notes has to raise suits or go into probate or other court in respect of the same or of the property securing it. Plaintiff further says that [on] the date of the execution of said last named principal note, the defendants Joe N. Green and Mary E. Green executed said eight interest coupon notes for fifty (50) dollars each, payable as specified aforesaid, respectively on the first day of March and the first day of September of each year until all eight of said coupons have been paid. Plaintiff says that each coupon note that was executed by said Joe N. Green and wife Mary Green and delivered to plaintiff is payable in United States gold coin at Waco, Texas, and provides for 10 per cent attorney’s fees, besides court costs, if placed in suit for collection.

“Plaintiff further says that the makers of said last named principal and coupon notes had the building on said above described premises insured for the benefit of plaintiff, as its interest might appear, and that said buildings were destroyed by fire, and that-on, to wit, November 25, 1895, plaintiff received on account of said principal note the sum of seven hundred and forty-four (744) and twenty-nine (29) cents, leaving a balance due on the same of two hundred and fifty-five (255) dollars and twenty-one cents, as of November 25, 1895; all of which is shown by indorsement on the back of the principal note.

“Plaintiff further says that all the interest coupons were paid up to number four, which made the interest paid on said principal note up to the first day of September, 1895; that by reason of the reduction in the amount of said principal note, by the payment of said insurance money, each interest coupon note is credited by a sufficient amount of money to reduce them to twelve (12) dollars and seventy-eight (78) cents each, instead of fifty dollars, as originally written.

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Cite This Page — Counsel Stack

Bluebook (online)
44 S.W. 319, 18 Tex. Civ. App. 286, 1898 Tex. App. LEXIS 69, Counsel Stack Legal Research, https://law.counselstack.com/opinion/green-v-scottish-american-mortgage-co-texapp-1898.