Exchange Bank v. Scholz

DOOLING, J. pro tem.

This is an appeal from a judgment foreclosing a mortgage made to secure a promissory note and providing for a deficiency judgment against the maker of the note, defendant Rudolph J. Scholz.

The note in the principal sum of $6,000 and the mortgage were executed by defendant Rudolph J. Scholz in favor of defendant Edward P. Sophey on November 3, 1927. The note by its terms was payable two years after date.

The defendants Sophey, who were engaged in business as co-partners, on December 30, 1927, entered into an arrangement for the benefit of their creditors whereby they agreed…