Guardian Depositors Corp. v. Powers

This is an action at law to recover a deficiency judgment after foreclosure of a mortgage by advertisement.

Max Kahn and wife gave a mortgage to National Bank of Commerce of Detroit on December 19,1923, to secure their promissory note. The mortgage contained an express covenant to pay the debt. Defendant Lula E. Powers, now Lula E. Bachman, purchased the premises from the Kahns on a land contract that same year and, three years later, took a deed thereto containing a covenant in which she assumed and agreed to pay the mortgage. In 1928 defendant Powers executed a promissory note to the…