Homer Building & Loan Ass'n v. Noble

Opinion by

Baldrige, J.,

Charles M. Noble, husband of the defendant, executed two stock loan notes, one on November 3, 1926, in the sum of $200, and another on February 22, 1930, in the sum of $100. Each was payable within one year from its date to a building and loan association, which later merged with the appellant. The maker assigned as collateral to secure the payment of the notes five shares of stock of the association, on which he had paid approximately $700. Thereafter, on February 25, 1930, Noble assigned and transferred the five shares to his wife, which was recorded on the books of…