Hubert v. Merchants' Bank

Olive, owning a piece of realty, made a deed to secure a debt to Mrs. Costa, under the provisions of the Civil Code (1-910), § 3306 et seq., and received back a bond for title as provided for therein. This deed was duly recorded, and recited that the grantee had given the grantor a bond for title. Thereafter Olive, who was indebted to the Merchants’ Bank and had pledged to it certain stock in two corporations to secure the indebtedness, transferred to the bank the bond for title to secure such indebtedness, in consideration of which transfer the bank surrendered to him the stock. The bond for…