Swain v. . Goodman
Supreme Court of North Carolina
Appeal by plaintiff from Connor, J., at tbe Fall Term, 1921, of Bbunswick. Civil action, beard on return to preliminary restraining order.
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Appeal by plaintiff from Connor, J., at tbe Fall Term, 1921, of Bbunswick. Civil action, beard on return to preliminary restraining order. Tbe action is to establish and declare defendants trustees of certain lands, covered by a mortgage executed by plaintiffs, and for an account and adjustment of sales of said property made by defendant, Louis Goodman, who bad obtained an absolute deed for a good portion of tbe property included in tbe mortgage, and while, in effect, tbe relationship of mortgagor and mortgagee existed between them.
1Opinion of the CourtHoke, J.
From tbe pleadings and facts in evidence, it apiiears that plaintiffs and one D. L. Swain owned a large body of land in said county, and on 30 October, 1913, D. L. Swain sold bis interest therein to plaintiffs, taking therefor $3,500 in payment, secured by a mortgage on property, with power of foreclosure by sale. Thereafter, and before maturing of tbe note, D. L. Swain assigned and indorsed tbe mortgage and note to defendant Louis Goodman. That on plaintiff’s failing to pay said indebtedness, defendant Goodman, as assignee and bolder, undertook to foreclose tbe said mortgage by exercise of…
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