Equitable Life Assurance Society v. Asmus

The case was submitted on agreed statement of facts from which we make the brief statement which follows. On April 16, 1927, J. S. Messer was the owner of the real estate here involved. On that day he and his wife, Mae, executed a promissory note for $12,000 payable to Hollister Brothers and gave a mortgage on this land to secure the same. This mortgage was assigned to appellee. Default having been made an action of foreclosure was commenced. Decree of foreclosure was entered April 30, 1934. The property went to sheriff’s sale and was bid in for the full amount of the debt. The note and…