Mendelson v. Realty Mortgage Corp.

Defendant reviews summary judgment at suit of a holder of bonds secured by trust mort gage on real estate. The question is whether the-right to sue reposes in the trustee and is denied the bondholder.

The bond, in ordinary form payable to bearer, recites :

‘ ‘ This bond is one of an issue of bonds of like date and tenor * * * all of which bonds are equally secured by a first mortgage or deed of trust, * * * to which mortgage or deed of trust reference is hereby made for a description of said property, the nature and extent of the security and the rights of the holders of the bonds issued under…