Seattle Savings & Loan Ass'n v. Gardner J. Gwinn, Inc.

Gardner J. Gwinn, Inc., hereinafter spoken of as Gwinn, Inc., on September 8, 1927, in each of two transactions borrowed from the Seattle Savings & Loan Association the sum of twenty-five thousand dollars, giving its note in that sum. in each case and securing the payment of each by a mortgage on separate real property. On October 13, 1927, Gwinn, Inc., gave a contract of sale of one property to William O. Wnrnsted, and of the other piece of property to Ralph H. Rushton, each purchaser assuming and agreeing to pay the outstanding mortgage on the tract he contracted to purchase. About that…