Smith v. Phinizy
This text of 71 Ga. 641 (Smith v. Phinizy) is published on Counsel Stack Legal Research, covering Supreme Court of Georgia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Opinion
That principle rules this case. Phinizy’s deed of the land back to Durham was made the same year that Durham deeded it to him, and recorded. Durham, for whom the complainants were sureties, became bankrupt; Phinizy sued the note, yet these sureties of a bankrupt did not inquire at all about the security which the land, while Phinizy held it, was to him and to them; nor did they look on the record-book of deeds, open to them, to see whether or not it had been parted with by Phinizy, who was their trustee in law to hold it for them. This laches shuts the door of equity to them, when they seek to set aside a judgment which slight diligence .could have prevented from being had.
So that, not only was the record open to the complainants, inviting their diligence, and the bankruptcy of their principal known to them, demanding their vigilance about this landed security, but the failure of the payee of the note to assert his lien on the land, and to get a special [644]*644judgment condemning it, appearing on the very face of the declaration against them, cried to them in a still louder voice, “ Look out for your landed security.” Yet, even this failed to awake them, and they slumbered on until the fatal judgment made that slumber the sleop of death. “ Vigilantibus non dovmientibus jura subveniunt.”
Judgment affirmed.
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71 Ga. 641, Counsel Stack Legal Research, https://law.counselstack.com/opinion/smith-v-phinizy-ga-1883.