Wright v. Cooke

M. M. Cooke and wife, Corrie Cooke, executed to the trustees of the United Home Builders of America, an unincorporated joint-stock association, operating under a declaration of trust, their promissory note in the principal sum of $15,300, payable in 85 monthly installments of $180 each. Af the time the note was executed the makers subscribed for 18 shares of capital stock in said association, of the face value of $1,000 each, payable in monthly installments of $10 per share. Contemporaneously with the execution of the note, the makers also executed a mortgage to secure the same in favor of…