Western Bank v. Sherwood

By the Court, Marvin, J.

The action is upon a bond, assigned by Johnson, the obligee, to the plaintiff. It is in the penalty of $14,000, conditioned to pay $7000 at the end of ten years, with interest to be paid annually. An installment of interest was due when the action was commenced. The plaintiff demanded judgment for the $14,000. The defendant put in issue the assignment of the bond to the plaintiff, and then alleged that the bond_, and a mortgage to secure its payment, were executed to Hiram Johnson, in consideration that Johnson would fulfill and perform certain covenants contained in…