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CENTRAL PRODUCTION CREDIT ASS'N v. PAGE

20333

268 S.C. 1 (1977)

231 S.E.2d 210

CENTRAL PRODUCTION CREDIT ASSOCIATION, Appellant, v. Charles W. PAGE et al., Respondents.

Supreme Court of South Carolina.

January 3, 1977.

Attorney(s) appearing for the Case

J. Reese Daniel, Esq., of Columbia, for Appellant.

Messrs. Theodore W. Law, Jr., and Davis and Brandon, of Columbia, for Respondents.

January 3, 1977.

LITTLEJOHN, Justice:

The issue in this case is the viability and validity of a mortgage given to secure present indebtedness, as well as future advances, as permitted by § 45-55 of the Code of Laws of South Carolina (1962). We refer to it as an "open-end" mortgage.

The relevant facts out of which the controversy arises are as follows:

On September 7, 1973, defendant Charles W. Page gave to the plaintiff, Central Production...

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