47 S.C. 139 | S.C. | 1896
The opinion of the Court was delivered by
Inasmuch as we think it due to all parties that the decree of his Honor, Judge Watts, which is set out in the “Case,” together with exceptions thereto, for the purposes of this appeal, should-be incorporated in the report of this case, a very brief statement of the transaction out of which this controversy arose, will be sufficient here. It appears that W. J. Duncan, being indebted to the plaintiffs, his factors, in a very considerable sum of money, had given to them certain mortgages on his own property, and also mortgages of his mother on her own property, to secure the payment of such indebtedness, and had also transferred to the plaintiffs as collateral security, certain mortgages held by said Duncan upon the property of other persons. Amongst these mortgages were the following: one held by the Bank of Barnwell on the O’Bannon place, being the first lien on that property; another held by F. M. Bamberg, being the second lien on that place; another held by W. G. Wheeler, being the third lien on the O’Ban-non place; and the mortgage to the plaintiff being the fourth lien on that place. The mortgage debts secured by the three first named mortgages amounted without interest to the sum of $3,990, while the fourth mortgage to the plaintiffs was for the sum of $10,000. Some time in the latter part of the year 1892, A. T. Woodward, Esq., an attorney at law practicing in Barnwell County, where the mortgaged lands were situate, and where Duncan resided, was employed by the plaintiffs to effect a settlement or arrangement of the indebtedness of Duncan to the plaintiffs. Accordingly, on the 21st of December, 1892, Woodward wrote a letter to the-
Under the view which we have taken we do not see the pertinency of the point raised by the sixth exception, and
The judgment of this Court is, that the judgment of the Circuit Court be affirmed.