Rudell v. Union Guardian Trust Co.

In this suit at law plaintiff seeks to recover on a bond issued under and secured by a trust mortgage covering real estate in Detroit. The Union Trust Company, now Union Guardian Trust Company and defendant herein, was the trustee under the mortgage. Defendant’s motion to dismiss plaintiff’s suit was granted by the circuit judge on the ground that plaintiff’s cause of action was adjudicated in an earlier chancery suit instituted and prosecuted to final decree by the defendant herein. Plaintiff has appealed.

Plaintiff’s decedent purchased one of the trust mortgage bonds in the sum of $1,000.…