Colonial Trust Co. v. Davis

Opinion by

Mr. Justice Frazer,

Plaintiff foreclosed a mortgage given by defendants to secure a loan of $1,500, alleging default in payment of a semi-annual installment of interest due October 1, 1916, and that by reason of such default, and in accordance with the terms of the mortgage, the principal debt became immediately due. An affidavit of defense was filed, averring payment in full of principal and interest in June, 1915, to Frank W. Larned, the duly authorized agent to receive payment for plaintiff. Larned having failed to pay over to plaintiff the amount collected, and his authority to…