Cherry River National Bank v. Wallace

Plaintiff brought this suit in equity in the circuit court of Wayne county to establish its right to certain security for the repayment of a loan made by it to William W. Huntington and Bernice B. Huntington, husband and wife. There is no dispute between the parties as to material facts. In 1947, Mr. and Mrs. Huntington were the owners of premises in the city of Detroit, located at 14549 Northlawn avenue. They entered into a land contract with defendant Joseph Moritz for the sale and purchase of this property for the sum of $8,900, with a down payment of $1,500 and the balance payable in…