Gralynn Laundry, Inc. v. Virginia Bond & Mortgage Corp.

In 1925 and 1926, appellant, Gralynn Laundry, Inc., a Florida corporation purchased under retained title contracts from appellee, American Laundry Machinery Co., certain machinery which it had installed in the laundry building of appellant located on Lots One, Two, Nineteen and Twenty, Block 33 North, City of Miami.

In June, 1927, Gralynn Laundry, Inc., executed and delivered to the City Trust Company, as trustee, bonds aggregating $150,000.00, dated June 1, 1927, payable to hearer ratably and without priority, and secured by a trust deed describing the laundry and lots of appellant. Default…