Calder v. Richardson

STRUM, District Judge.

The declaration herein alleges that on September 12, 1925, Bidwell Properties, Inc., was the owner of 900 acres of land encumbered by a pre-existing mortgage executed by W.„ P. McDonald, as mortgagor, to R. I. Harris. Bidwell Properties did not assume payment of the mortgage debt, and was in nowise personally liable therefor. Bidwell Properties thereafter conveyed 200 acres of said lands to Ruff Realty Company, the latter assuming and agreeing to- pay two promissory notes of $10,000 each, secured by the mortgage aforesaid. Ruff Realty Company conveyed. said 200 acres to…