Manufacturers & Merchants Building & Loan Ass'n v. Willey

Opinion by

Mr. Justice Maxey,

On February 2, 1922, Guy A. Willey and Ralph B. Evans gave plaintiff their collateral bond, accompanied by warrant of attorney, as additional security for a bond and mortgage contemporaneously executed and delivered to the obligee by Willey. Evans acted as coobligor for Willey, the borrower and the principal debtor. The amount of the mortgage was $30,000 and the bond was in the penal sum of $60,000. Willey’s property upon which the mortgage was secured was already subject to a prior mortgage of $150,000. The bond was conditioned upon the payment by the mortgagor of…