Union Guardian Trust Co. v. Rood

Upon careful consideration of the briefs filed on this rehearing by the respective parties, no reason appears for modifying our former decision. 261 Mich. 188. At the original hearing all parties agreed the purpose of this whole transaction was to give plaintiff a “mortgage” as security incident to a loan which it made to defendant John R. Rood. This security covered real estate owned by defendant. For that reason this court held that the mortgage lien must be foreclosed as a real estate mortgage rather than as a chattel mortgage. ' Under the circumstances involved in this case, we held the…