Tbe sole question presented is, Did tbe court below commit error in restraining tbe sale?
In
Lea v. Johnson,
In
Cureton v. Moore,
In tbe instant case, tbe learned and conscientious judge who beard this casé and granted tbe injunction found as a fact “that tbe props erty sought to be sold under said mortgage is now in controversy, and tbe conveyance of said property from J. L. Armfield to Dion Gr. Arm-field is being attacked by creditors of tbe said J. L. Armfield, and that tbe mortgage indebtedness of Miss Chase Boren is not controverted, and that a sale of said property as advertised on 8 October, 1923, by tbe said mortgagee would be prejudicial to tbe interests of all parties-to tbe action, except Miss Chase Boren, and that tbe security held by her is amply sufficient to cover her debt.”
It nowhere appears in tbe record that Chase Boren consented -to tbe procedure in which she was made a party or waived any right. This being so, from tbe facts found by tbe court below as a matter of law, we think that tbe restraining order ought not to have been granted.
If subsequent judgment creditors or litigants over tbe equity of redemption could “tie up” a first mortgage and effect its terms, it would seriously impair a legal contract. It may be “bard measure” to sell,, but this is universally so. Tbe mortgagee has a right to have her contract enforced under tbe plain terms of tbe mortgage. To bold otherwise would practically nullify tbe present system of mortgages and deeds in trust on land, so generally used to secure indebtedness and seriously hamper business. Those interested in tbe equity of redemption have tbe right of paying off the first lien when due. We can see no equitable ingredient in tbe facts of this case. Tbe mortgage is not a “scrap of paper.” It is a legal contract that tbe parties are bound by. Tbe courts, under their equitable jurisdiction, where tbe amount is due and ascertained — no fraud or mistake, etc., alleged — have no power to impair tbe solemn instrument directly or indirectly by nullifying tbe plain provisions by restraining tbe sale, to be made under tbe terms of tbe mortgage.
Allen, J.,
in
Bonner v. Rodman,
In
Smith v. Connor,
The prayer in the plaintiffs’ complaint, recognizes the mortgagee’s rights and the prayer is made “subject to the rights of the defendant Ohase Boren,” etc.
For the reasons given there was
Error.
