Tripp v. Mid-West Investment Co.

Plaintiff Tripp was the payee in and owner of a certain negotiable promissory note executed by one Biermann and others, in the principal sum of $2,500, with interest at 7 per cent, dated March 1, 1930, due March 1, 1933, together with a duly recorded real estate mortgage securing the same. In November, 1930, one Fred L. Crabbe and one Frank R. Beddow induced plaintiff Tripp to part with the Biermann note and mortgage and other property and securities which he owned in exchange for corporate stock of a concern known as Miid-West Investment Company. Pursuant to agreement with Crabbe and Beddow,…