Grimes v. Kelloway

A review of the historical facts is first impor tant. On the 28th day of -February, 1920, defendants Roy W. Kelloway and Otis A. Kelloway made and delivered to the defendant'Robert Smith a certain promissory note for the sum of $12,000, bearing interest from March 1, 1920, at the rate of 5 per cent per annum, due March 1, 1925. To secure the payment of the "negotiable instrument, the makers thereof, as grantors, executed a mortgage on certain real estate in Greene County, containing approximately 52% acres. About the 21st day of July, 1921, Robert Smith .transferred the written promise to…