Warneke v. Preissner

This action was brought to recover an instalment alleged to be due upon a note which the defendant, the payee, had indorsed to the plaintiff. The note was for $5,500, payable in monthly instalments of $50 each, with interest also payable monthly. It was secured by a mortgage of real estate located in Springfield, Massachusetts, and both note and mortgage were executed and delivered in that city. The mortgage gave to the mortgagee authority to sell the premises at auction upon default in any payment due upon the note. Such a default having occurred, the plaintiff, to whom the mortgage had been…