Federal Mortgage Co. v. Simes

The following opinion was filed November 9, 1932 :

Owen, J.

These actions were commenced separately but were consolidated for the purposes of trial. They are actions for money had and received, based upon identical facts, involve the same questions of law, were briefed and argued together in this court, and will be disposed of in a single opinion.

The plaintiff corporation was promoted and organized in 1924 as a second-mortgage finance company, with a capital stock of 1,000 shares, seven per cent, preferred, par value $100, and 5,000 shares no par value common stock, by J. A. Barry, Frank J.…