79 Ga. 174 | Ga. | 1887
In April, 1871, a mortgage was executed upon certain realty, certain personalty, and the crop of the mortgagor to be grown that year. It was made to secure a draft for $3.0, to become due on the first of November thereafter, and also any advances, up to the sum of $105, that might be made by the mortgagee to the mortgagor. These advances were to be due on the first of October following. An account was opened, in which this draft and some subsequent drafts were entered to the debit of the mortgagor, and also cash and merchandise advanced to him, the whole sum amounting to more than $200. In October and November, two bales of cotton were delivered by the mortgagor and credited on this general account. Before this delivery took place, it had been foreseen that the advances needed would go beyond the amount limited in the mortgage, and the parties stipulated that the first of the crop that might be received, should be applied to the excess; but it was in fact applied in this general way to the account. The balance left unpaid exceeded the limit specified in the mortgage, and the mortgage was afterwards foreclosed upon the realty for the full amount of the limit, to-wit, $105. The mortgagefi.fa. which issued from this foreclosure was levied upon the mortgaged real estate, and a claim was interposed by a third person, who had purchased the premises after the mortgage lien attached. On
Judgment affirmed.