Jenkins v. Smith

In an action to foreclose a mortgage, besides the owner of the equity, the indorsers of the note secured by the mortgage, and a claimant to a mechanic’s lien, are made parties defendant. Smith, asserting the hen, alone answers. Durland, the mortgagor, is maker of the note. The American Deposit & Loan Company, indorser, is under no liability to plaintiff, its indorsement being merely to pass title to the note. Libby, the other indorser, is guarantor of the note. The note was for a loan of $50,000, which, in addition to the mortgage, was secured by a pledge of stock. Foreclosure is sought not…