First Federal Savings & Loan Ass'n v. Ansell

This action grows out of a judgment by confession obtained by plaintiff upon a promissory note. The note is for $400. Tbe judgment entered was for $393.18. Thereafter and within term the judgment was vacated and defendants were permitted to plead. This they did by answer and cross-petition. It is averred in substance, that on April 11, 1934, plaintiff had a mortgage loan on its home property, which plaintiff desired to have, refinanced by the Home Owners’ Loan Corporation. To that end, plaintiff agreed with the corporation to accept the sum of $1,065.95 in bonds in full settlement of its…