Main v. Muncaster

The opinion of the Court was delivered by

Mr. Justice Stabler.

This action for the foreclosure of a mortgage of real estate was begun on February 16, 1933. The agreed facts pertinent to the issues involved are substantially as follows : On September 23, 1912, one R. W. Muncaster gave to the Bank of Florence his note in the sum of $5,000.00, payable one year from that date. At the same time he executed in favor of the bank a mortgage of real estate, in which it was stated that it was given to secure the payment of the maker’s promissory note dated September 23, 1912, and whereby he had promised…