National Commercial Title & Guaranty Co. v. Kelly

FORMAN, District Judge.

On and before March 4, 1933, the plaintiff was engaged in the business- of lending money upon bonds and mortgages and selling such bonds and mortgages with the principal thereof and interest thereon guaranteed as to payment. These sales were made in three ways as follows:

1. Whole mortgages were assigned with a guaranty accompanying the assignment.

2. Certificates of participating interest in single mortgages were sold guaranteed as to payment of principal and interest.

3. Certificates of interest in groups of mortgages were sold guaranteed as to payment of principal and…