Martin Bank v. Woods

142 S.W.2d 750, 24 Tenn. App. 241, 1937 Tenn. App. LEXIS 1
CourtCourt of Appeals of Tennessee
DecidedJune 15, 1937
StatusPublished
Cited by1 cases

This text of 142 S.W.2d 750 (Martin Bank v. Woods) is published on Counsel Stack Legal Research, covering Court of Appeals of Tennessee primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Martin Bank v. Woods, 142 S.W.2d 750, 24 Tenn. App. 241, 1937 Tenn. App. LEXIS 1 (Tenn. Ct. App. 1937).

Opinion

ANDERSON, J.

The Martin Bank appealed from so much of the decree of the Chancellor as refused and declined to fix and enforce an equitable lien on the interest of defendant, Mrs. Hazel Lee Woods, in a thirty-eight acre tract of land described in the bill. J. W. Rankin, administrator ad litem of the estate of Mrs. Bertha Rudd Brooks, deceased, also appealed from so much of the decree of the Chancellor as refused to fix and enforce an equitable lien on said tract of land in favor of the estate of his intestate.

The other portions of the relief sought by the original bill and by the cross-bill filed by the said Mrs. Bertha Rudd Brooks, deceased, in her lifetime, are immaterial to the questions presented upon the appeal.

The nature of the litigation and the facts giving rise to the questions presented may be best made to appear from the elaborate finding of facts filed' by the Chancellor. Since the appellee, Mrs. Hazel Lee Woods, insists in the brief filed on her behalf that “the Chancellor’s finding of facts was correct and that this case ought to be affirmed” we quote said findings in full:

“The bill in this cause was filed, seeking a judgment on a promissory note and seeking to have the Court declare an equitable lien on the 38 acre tract of land, described in the bill, to secure said note and have said lands sold for the satisfaction of said lien.

“Mr. T. E. Rudd, a citizen of Weakley County, Tennessee, died intestate some years ago, leaving surviving him as his widow, Mrs. Bertha Rudd, who afterwards inter-married with one Brooks, and whose name is now Mrs. Bertha Brooks, and as his only children and heirs at law Homer W. Rudd, Dewey Rudd, Raymond Rudd, together with two daughters, Clara Rudd and Louise Rudd Terrell. His widow and the foregoing named children were his only heirs at law. After his father’s death, Dewey Rudd inter-manned with one Hazel Lee Preeman. Dewey Rudd died in May, 1930, survived *243 by bis wife, tliey haying no children. His widow, prior to the filing, of the bill, inter-married with the defendant, Adrian Woods.

“The Martin Bank, as complainant, brings this suit against Mrs. Bertha Brooks, Homer W. Rudd and his wife, Clara Rudd and Hazel Lee Woods and her husband, Adrian Woods.

“After the death of T. E. Rudd, his widow continued to live on his farm. This farm consisted of 165 acres and was supplemented by 38 acres purchased by the widow, after her husband’s death. Mrs. Brooks lived on said farm for several years. Her sons married and left home, Homer moving to Chicago, Raymond to another farm, while Dewey went to work in complainant’s bank in Martin. During the several years, about eighteen, that Mrs. Brooks lived on said real estate, Dewey and Raymond attended to her financial affairs, did her bookkeeping and rendered what assistance they could to her, and during this period of time, a number of debts were created by Mrs. Brooks. Among these debts were several notes executed by her to Dewey, It might be well to say here that none of these debts are questioned, all of them being bona fide obligations of the widow, and the amounts owing having been expended for her use and benefit and livelihood. These obligations became so burdensome that about January 1st, 1930, it was decided for the three boys to pay off the indebtedness of their mother and divide up the estate.

“Among the notes owing to Dewey by his mother was one, dated June 22, 1929, for the sum of $510.00. This note was indorsed over to complainant bank on January 23, 1930, the day it was due as collateral to a note, executed by Dewey to said bank in the sum of $540.00' it being the one sued on in this cause.

“As stated, the widow and heirs at law of T. E. Rudd about January 1st, 1930, began discussing, a division of their father’s estate and the payment of the debts of their mother, Mrs. Brooks. It was ascertained that the total debts of Mrs. Brooks was $3,144.07; the total value of 153 acres of the lands, including the 38 acres purchased by Mrs. Brooks after her husband’s death was $6,100.00. It was also agreed that knocking off the $44.07, subtracted from the $6,100.00 real estate value, would leave a net balance of $3000.00 in real estate value to be divided between the five children. This left fifty acres for the use and benefit, as homestead and dower, of Mrs. Brooks out of the total acreage.

“In pursuance of this agreement, Raymond Rudd agreed to take forty acres, at $40.00 an acre, or $1600.00 worth; crediting this sum with his $600.00 inheritance, left a balance of $1,000.00 due by him, which he paid by assuming and settling a note due the Farmer Bank at Sharon.

“Forty acres of land was taken by Clara and Louise, valued at $30.00 an acre or $1,200.00. They were compelled to make no payments, because this was their interest in their father’s estate.

*244 “Thirty-five acres was to be taken by D. L. Rudd, at $40.00 an acre or $1400.00, and D. L. Rudd and TIomer Rudd agreed to purchase thirty-eight acres at $50.00 an acre or $1900.00. The total of D. L. Rudd’s and TIomer Rudd’s real estate amounted to $3300.00, which less their $1200.00 credit, left a net clue by them of $2100.00. Of this sum, Homer was to pay $350.00 and Dewey was to pay $1750.00, Iiomer’s only interest being in the thirty-eight acres at $50.00 an acre, or $950.00, which, with a credit of his $600.00, left only $350.00 due by him. This was paid. The deeds were made to said sons and their wives by the entirety.

“This left Dewey Rudd owing in the settlement the sum of $2350.00, which less his $600.00 interest in the estate, left him to pay in $1750.00.

“This agreement between these parties to settle the estate on these terms and conditions was effected, deeds were made and signed dated January 1, 1930, and Dewey became the owner of thirty-five acres and a half interest in thirty-eight acres of land. While it does not affirmatively appear yet the proof indicates that delivery of deeds to Dewey et al. was not made until Feb. 3, 1930.

“As stated, the amount he was to pay was $1750.00 and as was above stated, among Mrs. Brooks debts were the notes, which she had executed to Dewey. These notes, with interest thereon, total something more than $1300.00, but Dewey agreed to settle -with her for $1150.00, and to accept that sum in full payment of his notes.

“Raymond Rudd paid the amount due by him in this settlement; Homer paid the amount due by him in the settlement; and the payments were made to their mother, Mrs. Brooks. D. L. Rudd also paid her the $1750.00 due by him. TIis payment was made by check, dated at Martin, Tennessee, January 2nd, 1930, payable to the order of Mrs. Btertha Rudd’s estate and shows it was ‘for difference in valuation in full settlement Mrs. Bertha Rudd estate.’ This check was duly paid by the bank on February 3rd, 1930, and on the same date was deposited to the credit of Mrs. Bertha Rudd’s estate in said complainant bank. The same time this check was given, Mrs. Bertha Rudd Brooks gave Dewey her check for $1150.00 in payment of her notes due to him. This check was charged against her account in said bank on February 3, 1930, and on the same date was deposited to Dewey’s credit in said bank. The bank records establish this fact and the deposit ticket in Dewey’s favor for said sum is- filed in the record. It then appears that the entire transaction as far as Dewey was concerned was completed on Feb.

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Cite This Page — Counsel Stack

Bluebook (online)
142 S.W.2d 750, 24 Tenn. App. 241, 1937 Tenn. App. LEXIS 1, Counsel Stack Legal Research, https://law.counselstack.com/opinion/martin-bank-v-woods-tennctapp-1937.