Long v. Lowrey

The material facts on which these suits depend are found by the master to be as follows: On September 24, 1920, as the result of prior negotiations, Henry Lowrey, Julia F. French and Philip B. Long, jointly purchased from John C. ICiley and Edward F. Cassell a certain lot with buildings on High Street in the city of Medford for $35,000. It was subject to a mortgage for $22,500 to the Winchester Savings Bank; and they agreed to pay the balance of the purchase price by giving to ICiley and Cassell a second mortgage on the property for $9,500, and by each paying $1,000 in cash. For sufficient…