Court Opinion

ID: 9587410
Source: CourtListenerOpinion
Date Created: 2023-08-21 23:21:49.760418+00
Date Added: 2024-06-11T17:41:36.002195
License: Public Domain

*31Bowles, Justice,
dissenting.
I cannot agree with the majority opinion in this case.
I conclude as a matter of law that the association complied with Code Ann. § 20-116 when it advised plaintiff in writing, demanding the loan be brought current in ten days. The amount demanded was not the full amount of the loan but the arrearage, and no payment had been made in over two months at the time of demand. No effort was made by plaintiff to comply with the written notice. Payment demand for the outstanding delinquent payments and advice that the contract would be reinstated upon receipt of payment is legal notice to return to the terms of the original agreement.
Bank checks are not payment until themselves paid. Code Ann. § 20-1004. Thus, the payment credited to plaintiff after the date of full acceleration could not reinstate the installment provisions of the original note.
After notice of return to the terms of the original contract is given and there is no compliance, demand is made for the full balance owed, and acceleration has occurred, a partial payment thereafter would not amount to a waiver of time of payment of an installment or a quasi new agreement for the reason that deferred payment times are no longer available to be waived. The whole debt is due, the contract provisions as to acceleration having been exercised at that time. Morrison v. Roberts, 195 Ga. 45 (23 SE2d 164) (1942). See also Giordano v. Stubbs, 228 Ga. 75 (184 SE2d 165) (1971).
Inadequacy of price paid upon the sale of property under power will not of itself and standing alone be sufficient reason for setting aside the sale. It is only when the price realized is grossly inadequate and the sale is accompanied by fraud, mistake, misapprehension, surprise or other circumstances which might authorize a finding that such circumstances contributed to bringing about the inadequacy of price that such a sale may be set aside by a court of equity. Gunter v. Tucker Federal Savings &c. Assn., 237 Ga. 806 (229 SE2d 662) (1976); Giordano v. Stubbs, supra.
The due date of installments, deviated by mutual *32departure, are restored by reasonable written notice. The acceleration clause is not altered where the demand for return to the original terms is not complied with. See State Mut. Ins. Co. v. Strickland, 218 Ga. 94 (126 SE2d 683) (1962).
A bona fide purchaser for value, without notice of an equity will not be interfered with by equity. Code Ann. § 37-111. If such is not the law, no one could ever safely bid at a properly advertised and conducted public sale, with the result that both parties, debtor and creditor will suffer.
Additionally, for plaintiff to resort to a court of equity she must offer to do equity. She tenders nothing and offers to tender nothing. She cannot prevail. Code Ann. § 37-104. Cochran v. Teasley, 239 Ga. 289 (3) (236 SE2d 635) (1977); Wright v. Intercounty Properties, 238 Ga. 492 (233 SE2d 160) (1977); Crockett v. Oliver, 218 Ga. 620 (1) (129 SE2d 806) (1963); State Mut. Ins. Co. v. Strickland, supra; Clisby v. City of Macon, 191 Ga. 749 (13 SE2d 772) (1941). The poverty of the plaintiff does not relieve her from the above requirement. See Morrison v. Roberts, supra.