Seaboard Loan Corporation v. McCall

Seaboard Loan Corporation sued H. C. McCall, R. C. McCall Jr., G. A. Smith, T. D. Gibbs, and H. B. McCall for a balance due on a promissory note signed by Mrs. Myrtle McCall and the above-named defendants. The note was for the purchase-price of 200 two per cent, investment certificates. Each of the defendants pleaded that the note was given in connection with a note given by Mrs. McCall to secure a loan of $1000, to secure which the note sued on was put up as collateral, that the plaintiff loan corporation agreed to procure insurance on "the maker’s life to an extent that in the event of the…