Lansford Building & Loan Ass'n v. Sheerin

Opinion by

Mr. Justice Stern,

In 1925 defendants borrowed from plaintiff association the sum of $10,000 and executed their bond in double that amount, with warrant of attorney attached, secured in the usual manner by a mortgage and stock of the association assigned as collateral. In 1929, the obligation having fallen into arrears, conversations were had between defendant William B. Sheerin and plaintiff’s attorney Frank S. Riordan, Sheérin’s version of which was that, among other suggestions, he offered to “deed the property for the amount that we owed,” and that “it was understood that cleared…