City Investing Company v. Davis

HYDE, Presiding Judge.

This case began as an action to foreclose a chattel mortgage securing a debt of $401,639.79, for which amount plaintiff City Investing Company (hereinafter called City) asked judgment. Defendant Davis filed an answer denying all allegations concerning the debt and chattel mortgage with a counterclaim in four counts alleging in Count I an agreement between Davis and City to develop 400 acres in Jackson County owned by Glendale Farms, Inc. (hereinafter called Glendale), incorporated by Davis, pursuant to which defendant placed all the Glendale stock in trust with City and…