McQuady v. McQuady

COWART, Judge.

The parties borrowed $15,000 to be used in a particular business and secured the loan by a mortgage against the wife's separate property with the understanding between them that the husband would indemnify the wife from any loss of her separate property that might result from it being pledged as security for the business loan. In a separate written agreement, the husband acknowledged the arrangement and promised the wife that he would pay the interest and principal on the business loan in full without contribution from the wife.

The Final Judgment of Dissolution of Marriage…