New Amsterdam Building & Loan Ass'n v. Moyerman

Opinion by

Gawthrop, J.,

These appeals were argued together and may be disposed of in one opinion. The plaintiff, the New Amsterdam Building and Loan Association, made a loan to one Greenberg of $5,000, secured by a building association bond and a mortgage on property No. 1014 Rockland Street, in the City of Philadelphia. The mortgagor assigned twenty-five shares of stock of the building and loan association as collateral security for the loan. On September 7,1925, the defendant, Moyerman, executed and delivered to plaintiff a bond for $2,000 as collateral security. The bond recited that the…