Langson v. Goldberg

The 32 South State Street Building Corporation, herein referred to as the building corporation, issued $1,100,000 par value of interest-bearing bonds, and secured them by a trust deed on certain long-term leasehold interests. Sol. H. Goldberg, an appellee, was interested in the building corporation and, as further security to the bonds, executed a contract guaranteeing the payment of the taxes on the property described in the trust deed, the bonds, interest and the full performance by the building corporation of all its covenants. Harry I. Langson owned three bonds, $700 par value, and in…