In re Sayed
District Court, W.D. Michigan
In the matter of bankruptcy proceedings of Alexander Sayed. On appeal of the First National Bank of Boyne City from a referee’s order allowing a trustee’s petition to vacate an assignment of a real estate contract.
1Opinion of the Court
DENISON, District Judge.
Alexander Sayed was a merchant in Boyne City. He purchased a store building, made a. payment, and received a land contract in the usual form. On July 23, 1907, he had paid -$700 out of the total purchase price of $2,200. and on that day lie applied to the Boyne City State Bank for a loan or a line of credit of $1,200 for the staled purpose of improving the building. " It was agreed that he should assigu to the bank his interest in the real estate and in the land contract as security, and that the bank would advance him from time to time the amounts which he needed.…
2Cases cited1 opinion
- Loeser v. Savings Deposit Bank & Trust Co.Court of Appeals for the Sixth Circuit · 1906
3Cited by4 opinions
- Dougherty v. First Nat. Bank of CantonCourt of Appeals for the Sixth Circuit · 1912
- In re WatsonDistrict Court, E.D. Kentucky · 1912
- Anderson v. DaterDistrict Court, W.D. Michigan · 1926
- In re DonnellyDistrict Court, N.D. Ohio · 1912