Central Union Trust Co. v. Northern Insurance

Plaintiff brings suit in an action at law to recover $16,250 for money had and received, and alleges as follows in its complaint:

All the parties to the action are domestic corporations. On or about October 1, 1921, the defendant Willat Studios & Laboratories, Inc. (hereinafter called the Laboratories Company), duly executed a first mortgage for $100,000 to the plaintiff upon certain real property, under which bonds were issued and sold to bonafide holders for value. The Laboratories Company covenanted in said mortgage as follows: “ The Willat Company shall from time to time cause the property…