Few v. Pou

On January 5, 1920, Mrs. Pou sold a house and lot to Smith, taking from 'him three promissory notes for $2,000 each, respectively maturing January 1, 1921, 1922, and 1923, and giving him a bond for title, under which he went into possession of the property. On December 1, 1920, Smith executed to Few an assignment of “the within bond for title, with all my *621rights, title, and interest therein and thereto,” with the provision that “this transfer and assignment is made as collateral security to a certain note, dated December 1, 1920, due January 1, 1922, bearing 8 per cent, interest per annum,…