111 Ga. 725 | Ga. | 1900
It is very clear, under the evidence, that a new trial should have been granted. It may be well enough to observe, in the outset, that the claim that Sharpe & Co. were bona fide purchasers of the land, and that therefore as to them the verdict should have been allowed to stand, was not pressed in the presentation of the case in this court, nor is it referred to in the brief for the defendants in error which was filed here. On the contrary, counsel for defendants in error state in their brief that there is but one issue formed by the pleadings in this case, and that is, whether or not Pierce delivered the land in question to Parrish in satisfaction of the debts which the deed was held to secure, or whether Parrish procured the rent note by fraud. Accepting the contention thus made as being the issue presented for our determination, we omit any further reference to the question whether Sharpe & Co. were bona fide purchasers without notice, and were thereby entitled to hold
In the case of Davis v. Davis, 88 Ga. 191, it was ruled by this court that where the vendee of land, at the time of taking title thereto, procures a third person to advance a portion of the purchase-money and become his surety on a promissory note to the vendor for the balance, and deposits the deed with such third person as collateral security for the repayment of the purchase-money so advanced, and a few days thereafter executes and delivers to such third person his promissory note, to be due thereafter, for the whole amount of such purchase, no resulting trust is created in behalf of such third person, nor' does any equitable lien arise by reason of the deposit of the title deed. It is true that in the case of English v. McElroy, 62 Ga. 413, it was ruled that the deposit of deeds as collateral security for a debt does not create such a lien on the land as can be enforced at law, and that a bill in equity will lie to complete the contract and subject the land; but an examination of the record in that case shows that there was a written contract that the deeds so held were to be held as collateral security for the payment of the note, and it was because such a
Judgment reversed.