McIlroy v. N.J. Title Guarantee Trust Co.

On January 18th, 1924, the defendant assigned a bond and mortgage to the complainant, which had been given to it by Salvatore and Bernarda Scicchitano on January 3d 1924; and, by a separate agreement in writing, it guaranteed to her the payment of the principal mentioned in the instruments, as well as interest thereon, at the rate of five per cent. In the agreement of guarantee, the complainant authorized the defendant to collect the principal and interest as, and when, it became due, and directed that the proceeds be paid to her. On January 31st, 1939, the defendant collected from the…