Guaranty Mortgage Co. v. Ellison

This is an action on a promissory note for $1,000, payable in annual installments of $200 each, tbe first installment payable December 12, 1921.

It is alleged in tbe complaint that tbe note was executed as payment upon a subscription contract for 10 shares of tbe preferred capital stock of plaintiff company; that tbe stock was issued and delivered to defendant and deposited by her with plaintiff as security for tbe payment of tbe note; that said note had not been paid, nor any part thereof, and plaintiff declared tbe entire principal due, with interest thereon, as provided in tbe note.…