Court Opinion

ID: 9828786
Source: CourtListenerOpinion
Date Created: 2023-09-01 18:44:12.578757+00
Date Added: 2024-06-11T07:42:53.107731
License: Public Domain

On Motion for Rehearing.
In a second motion for rehearing filed by appellants on June 27, 1929, it is shown that the amount of indebtedness then due appellants on the note of the finance corporation did not exceed the sum of $1,100, and that the collateral notes then held by appellants to secure said indebtedness were largely in excess of that amount, but that to collect said collateral notes by suit would require the bringing of a large number of suits and cause unnecessary expense and delay in the collection of appellants’ indebtedness, and said notes could not be otherwise collected.
Under these circumstances, we have concluded that equity does not require that appellants be made to forego their contract right to collect their indebtedness by a sale of the collaterals held by them; all that in equity can be required of appellants is that the sale be a public one, after due legal notice has been given thereof.
The motion for rehearing has been granted, our former judgment of affirmance set aside, and the judgment of the trial court modified and reformed as above indicated, and affirmed, as so reformed.