Brollier v. Bankers Mortgage Co.

The opinion of the court was delivered by

Burcit, J.:

Plaintiff purchased of defendant a bond for $1,000 of a type- which defendant issued. The price was payable in installments. In May, 1929, she surrendered the bond and took two others for $1,000 each. On May 2, 1930, she brought an action for a declaratory judgment, first, that the bonds are void; or, second, if the bonds are not void, that she is entitled to surrender them on terms provided in the building and loan association statute. In either event, she would get back all her money with interest, some*299thing which is utterly incompatible…