Title: METHVIN v. AMERICAN S&L ASS'N
Citation: 151 P.2d 370, 1944 OK 177, 194 Okla. 288
Docket Number: 
State: Oklahoma
Issuer: Oklahoma Supreme Court
Date: April 11, 1944

METHVIN v. AMERICAN S&L ASS'N Annotate this Case METHVIN v. AMERICAN S&L ASS'N 1944 OK 177 151 P.2d 370 194 Okla. 288 Case Number: 30441 Decided: 04/11/1944 Supreme Court of Oklahoma METHVIN et al. v. AMERICAN SAVINGS & LOAN ASS'N et al. Syllabus ¶0 1. CORPORATIONS--Legal existence of corporate entity not to be questioned by those contracting with it in such capacity. The legal existence of a corporate entity may not be inquired into by those with whom it has, in the name and capacity of such entity, contracted. 2. BUILDING AND LOAN ASSOCIATIONS--Since 1913 fixing of premiums for loan by competitive bidding not required. Since the enactment of chapter 200, Session Laws 1913, the laws of Oklahoma do not require building and loan associations to fix premiums for loan of money by competitive bidding. 3. MORTGAGES--Mortgagor having sold real property not necessary party to foreclosure proceeding and revivorship after his death unnecessary. Where a person executes a mortgage on real property and afterwards conveys the property by warranty deed, he has parted with all his title to and interest in such property and is not a necessary party to the foreclosure proceedings commenced by his mortgagee, where no personal judgment is prayed for against him, and upon the death of such mortgagor, who had been made a party to the foreclosure proceeding, a revivor of action against the deceased is unnecessary. 4. SAME--Where property was not sold under foreclosure judgment and plaintiff was not given possession he was not "mortgagee in possession." Where foreclosure proceedings are had against real estate and judgment in foreclosure rendered and the property has not been sold under the foreclosure judgment and the plaintiff has never been given possession of the property, he is not a ,'mortgagee in possession." 5. BUILDING AND LOAN ASSOCIATIONS-Contract to purchase stock and to borrow money as separate transactions not supporting action for usury. Where a party enters into a contract to purchase stock and to borrow money from a building and loan association, the two transactions, if separate, cannot be commingled to support the charge of usury. 6. SAME--Statutory provision as to kinds of stock that may be issued as provided by by-laws. A building and loan association of this state may issue its stock in full paid, prepaid, and installment shares in such amounts and at such times and in such manner as its by-laws may provide. 7. PLEADING--Cause of action set up in cross-bill must be germane to original controversy. A cause of action set up in a cross-bill must be germane to the original controversy; and where a defendant seeks to set up new and distinct matter, not maintainable under the provisions of the code as a counterclaim, unless such matter is involved in a proper determination of the subject matter of the original suit, a defendant will be required to litigate it in a separate action. 8. BILLS AND