Duke v. L. Y. Stayton Co.

Appellant, as liquidator of the insolvent Scandinavian-American Bank of Tacoma, instituted this action for the purpose of foreclosing an instrument, in form a quitclaim deed, as a mortgage, for the security of the payment of a note of $3,000 and interest, given the bank by L. Y. Stayton Company on October 17, 1919; and also for the security of sixteen promissory notes given the bank by Stayton individually, aggregating $29,552.87, and interest. The property described in the quitclaim deed was set forth in the complaint. It was prayed that the deed be decreed to be a first and prior mortgage…