Honolulu Savings & Loan Co. v. Reed

A suit in equity was filed on March 14, 1950, by the Honolulu Savings and Loan Company, Limited, assignee of Earl Frost Baker and Elizabeth Davidson Baker, on a note and mortgage securing the same, in the sum of $12,000 executed by Albert G-. Reed and Mary C. Ing to the Bakers. This note and the mortgage were given to secure an antecedent debt of Reed to the Bakers.

Reed had been a real-estate agent representing the Bakers in the sale of certain lands and had failed to account for some $12,000 received by him. This note and mortgage were given to secure the debt.

The evidence shows that Miss…