STROUPE v. BEASLEY

88-130.

549 So.2d 15 (1989)

J. Burton STROUPE and Winona Y. Stroupe v. J.E. BEASLEY, Jr., and Security Trust and Factors Corporation.

Supreme Court of Alabama.

Rehearing Denied July 14, 1989.


Attorney(s) appearing for the Case

John W. Cooper of Cooper & Hutcheson, Valley Head, for appellants.

Dan C. Totten of Malone & Totten, Athens, for appellees.


STEAGALL, Justice.

This appeal is from a judgment in favor of J.E. Beasley, Jr., and Security Trust and Factors Corporation. The trial court, in this nonjury case, held that a resulting trust or a trust in the nature of an equitable mortgage was not established by virtue of the oral agreement between Beasley and J. Burton Stroupe.

On February 18, 1970, Beasley, acting as Security Trust and Factors Corporation ("Security Trust"), purchased two properties at...

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