Evans v. Sheriden

This suit involves the validity of a series of 75 notes of $20 each and the second mortgage or deed of trust securing the payment thereof, executed by Sheri-den and wife to appellant Ward, and of which appellant Evans purchased the last 42 without recourse. It is claimed the.notes and mortgage were executed in violation of regulations of the Home Owners Loan Corporation, holder of first mortgage on this property, and were contrary to public policy. The Chancellor so held and complainants appeal.

In 1926, Mr. Ward contracted to build a residence for Mr. Sheriden at the price of $6338, to which…