Wolkenstein v. Slonim

Joseph Slonim by a deed of trust conveyed certain real estate in Chicago to the Chicago City Bank and Trust Company, as trustee, to secure the payment of promissory notes aggregating $58,000. Later he executed another trust deed to B. C. Sharpe to secure the payment of notes amounting to $10,000. This trust deed contained a recital that it was subject to the first mentioned trust deed. The indebtedness secured by the senior trust deed was reduced to $47,000, and on October 15, 1930, new notes for that amount were executed by Slonim, who gave the Chicago City Bank and Trust Company, as…