Bridgeport People's Savings Bank v. Palaia

The plaintiff claimed to have a first mortgage on certain property in Bridgeport for $2500 given September 15th, 1930, by defendant Palaia. Prior to July, 1930, the land was owned by the defendants Landsman and Greenbaum, who had orally agreed with Palaia to sell it to him for $750 and accept a purchase money mortgage for that amount, Palaia to receive his title deed only after he had arranged with some bank for a building-construction instalment mortgage, and as part of the same transaction to exe cute both that and the purchase money mortgage, the latter subject to the former. At the time…