Milton v. Setze

1. Where a married woman executes a “mortgage note” payable to the order of her son, the mortgage being on her separate estate, and this is done for the sole purpose of enabling the payee to use the paper as collateral security at a bank for his individual indebtedness to it, and after receiving the paper the payee informs the bank of the purpose for which it has been executed and at the time offers it as collateral security for his existing indebtedness to the bank and for additional money then advanced to him by the bank, and the paper is accepted by the bank for such purpose and is duly…