American Trust Co. v. Bergstein

This bill was filed to foreclose a land contract. On June 15,1917, Louis I. Frank sold certain real estate in the city of Detroit to Samuel Efrusy for a consideration of $26,000, of which $4,273.35 was paid on the execution of the contract, and the balance was to be paid in monthly instalments of $250 each. On January 17,1918, Frank assigned his vendor’s interest to the Detroit Mortgage Corporation, guaranteeing its performance on the part of Efrusy, the vendee. Efrusy was unable to keep up his monthly payments. Frank paid them on various occasions until he had paid a total amount of $850,…