Schaffer v. Eighty-One Hundred Jefferson Avenue East Corp.

Plaintiffs review decree dismissing their bill of complaint for multifariousness and want of equity. In substance the bill alleges:

In 1922, defendant DeVos acquired real estate in Detroit and erected on it four cross-shaped eight-story apartment buildings, containing 352 apartments and a large underground garage, the whole paid for from the proceeds of a $2,000,000 mortgage. In 1923 he organized Alden Park Manor, Inc. (the holding company), as a Michigan profit corporation, and conveyed the premises to it. In 1927 the mortgage was refinanced and discharged through a new trust mortgage to…