Union Bank of Louisiana v. Stafford - 53 U.S. 327 (1851)
U.S. Supreme Court
Union Bank of Louisiana v. Stafford, 53 U.S. 12 How. 327 327 (1851)
Union Bank of Louisiana v. Stafford
53 U.S. (12 How.) 327
The 25th section of the law of Louisiana incorporating the Union Bank of- Louisiana declares that in all hypothecary contracts and obligations entered into by any married individual with the bank, it shall be lawful for the wife to unite with him, and
in such case the property of the wife, whether dotal or of any other description, shall be affected by the contract.
Where a wife united with her husband in mortgaging property to the bank, the mortgage was good under this clause.
A sale of the mortgaged property for a twelve months' bond under an order of seizure and sale was not a novation or extinguishment of the original mortgage.
Where the mortgage is payable by installments, some of which were not due at the filing of the bill, the statute of limitations will not apply. The possession of the mortgagor was not adverse to the mortgagee.
Where other parties had a nominal interest as defendants and resided beyond the jurisdiction of the court, it was error in the circuit court to dismiss the bill because they were not made parties. Under the Act of Congress of 1839, the court should have gone on to decree against the actual defendants, and in this case all who have a beneficial interest are in court.
The facts are set forth in the opinion of the Court, to which the reader is referred.