Pacific Savings & Loan Ass'n v. Corbett

One Corbett and wife, defendants in the lower court, being the owners of a lot in the city of Seattle, some time in the latter part of the year 1926, commenced the erection of a dwelling house thereon. On the first of February, 1927, they borrowed from the Barron-Thompson Company, a Seattle corporation, three thousand dollars, giving therefor a note secured by a mortgage on the real property involved in this action, and on which they were erecting the house. The note provided for installment payments of $37.50, or more, at the option of the makers, each month. This loan was what is commonly…