C. P. A. Company v. First Mortgage B. Co.

Plaintiff, a stock insurance company, organized under the laws of Michigan, purchased $6,000, in par amount, of trust mortgage bonds of the First Mortgage Bond Company, Inc., secured by a first trust mortgage on Brooklawn apartments, corner of Brooklyn and Hancock avenues, in Detroit. The trust mortgage securing the payment of these bonds was executed by Joseph Saxer and wife January 15, 1924. In December, 1925, Saxer and wife conveyed the mortgaged property to Douglas M. Davis. February 1, 1926, Douglas deeded the property to himself and William M. Stoker. In this deed, Davis and Stoker…