Collier v. Casey

On March 1, 1922, C. E. Casey, the plaintiff, loaned the defendant, Ellanora Collier, his sister-in-law, $1800. The defendant executed to him a loan deed on certain real estate. This loan was evidenced by a note for $1800 bearing interest at seven per cent, per annum, with interest payable semi-annually. From 1922 to 1930 the defendant paid only $120 as principal or interest. On March 10, 1937, a new agreement was entered into between the parties whereby Casey surrendered and canceled the deed securing the debt and also the original note and interest coupons thereon, and accepted in lieu…