Drannek Realty Co. v. Nathan Frank, Inc.

This is an action for the balance due on three promissory notes originally secured by a deed of trust which had been foreclosed. The amount claimed, $32,840.13, is not in dispute. It is the deficiency or unpaid balance after crediting the notes with the net proceeds derived from the sale.

Plaintiff was the owner of a one-half city block of land in St. Louis on the north side of Chestnut Street extending from 19th Street to 20th Street. The land was vacant and unimproved. It was sold to defendant in September, 1927, for $200,000. The down payment was $25,000 cash and the balance was evidenced…