McVicar v. Peters

Throughout this opinion, for brevity and convenience, appellants Peters and wife will be referred to as Peters, and respondents McVicar and wife as McVicar.

On and prior to March 7, 1934, Peters owned two certain lots, with a building thereon, encumbered by a mortgage made in 1923, of which the Puget Sound Sav ings & Loan Association had become the owner and with respect to which $726.28 of principal was still owing. On July 12, 1923, Peters had contracted to sell the property to A. J. McVicar, who subsequently assigned to the McVicars in this cause. If, on March 6, 1934, McVicar had paid the…