Alropa Corp. v. Flatley

On April 20, 1925, the defendant purchased certain real estate from the Baker-Riddle Com*563pany situate in Dade county, Florida. The purchase price was $9,475, $3,850 was paid in cash, mortgages to the amount of $4,000 were assumed, and the remainder of the purchase price $1,625 was represented by two promissory notes, one for $825 and one for $800, due two years after date. The notes were secured by a third mortgage executed on the same day, covering the real estate purchased by the defendant. On August 26, 1925, the defendant sold the property to one H. Leonard Shaw, receiving net therefor…