North Cambridge Cooperative Bank v. Hetherston

This is an action of contract brought by a co-operative bank, organized and doing business under G. L. (Ter. Ed.) c. 170, as amended, to recover a deficiency after foreclosure of a real estate mortgage in the co-operative bank form.

The answer of the defendant is a general denial, payment, the statute of limitations, and the illegality of the note.

The note was introduced in evidence at the trial. So far as now material, it is as follows:

“ $2700.00 North Cambridge, Mass., October 24, 1934

“I hereby pledge and transfer to THE NORTH CAMBRIDGE CO-OPERATIVE BANK, a Corporation duly established by…