Guay v. Brotherhood Building Ass'n

The litigation between the parties has covered a wide range, as is shown by the voluminous character of the master’s reports. There are here for consideration, however, as the essential issues, only the inquiries how far the note is a matured debt of the corporation and, so far as it is a debt, if the stockholders are liable.

The defendants say that the principal of the note was payable only after payment of the first lien mortgage debt from the income of the property and that the foreclosure by the testatrix of her mortgage made such payment impossible, thus estopping the plaintiff from…