Cross v. Commons

George D. Commons was purchasing the home in which he resided in the township of Laketon, county of Muskegon, State of Michigan, on land contract. From time to time he had borrowed sums of money from Mark J ones who, on November 10, 1950, loaned him an additional amount so as to make the aggregate owing $5,000, which amount Commons agreed to pay to Jones in 1 year, with interest at 6%. As security for the loan, Commons pledged his vendee’s interest in the land contract to Jones. The debt became due on November 10, 1951. Commons was unable to pay and in lieu of foreclosure he assigned his…