Malis v. Homer Building & Loan Ass'n

Opinion by

Me. Justice Drew,

Plaintiff is the holder of five demand promissory notes totalling $22,000, issued by certain building and loan associations, whose successor by merger defendant is. In April, 1932, plaintiff instituted suit against defendant upon the notes, but the latter agreed to pay off the obligations at the rate of $2,000 a month, and the action was not pressed. These payments fell in arrears, however, and on October 27, 1932, plaintiff entered judgment for want of an affidavit of defense for $13,685, the amount then due. On November 15, 1932, the shareholders of the defendant…