Empire Mortgage & Investment Corp. v. Donaldson

On February 26, 1932, tbe defendant, Mrs. J. S. Donaldson, sold to Empire Trust Company three notes, $600 each, totaling $1800, -which defendant owned and which had been signed by Mrs. Henrietta George, and transferred a loan deed given to secure these notes to the Empire Trust Company as security which bad been transferred to the defendant by Mrs. George. The purchase-price of the notes was $1800 which was paid by the Empire Trust Company to the defendant. About March 15, 1932, Henry B. Kennedy, an officer and agent of the trust company, stated that the property represented by the loan deed…