Brayley v. Ellis

The conceded facts are that the defendant Ellis, in February, 1882, executed a mortgage to the defendant Colby to secure two negotiable promissory notes. The notes were sold and assigned by Colby to the plaintiff before maturity, but no assignment of the mortgage was made of record or otherwise. The defendant Fuller purchased the property of Ellis. The defendants claim that Ellis paid *156Colby $150 in part payment of the notes, without knowledge of the transfer to the 'plaintiff, and under the belief that Colby still owned both the notes and mortgage. They claim that Colby so stated and…