Frankoma Potteries, Inc. v. Rettenmeyer

Frankoma Potteries, Inc., a corporation, appeals from an order denying an application to vacate the appointment of a receiver. The material facts are these: The plaintiff, Rosa W. Rettenmeyer, holds a mortgage against certain real estate and the personal property belonging to the corporation to secure a note for $15,000, dated October 14, 1938, and due October 14, 1943. The mortgage contains the usual acceleration clause for failure to pay taxes assessed against the mortgaged property. On June 17, 1942, the plaintiff commenced its action to recover judgment on the note, to foreclose the…