Tharp v. St. Georges Trust Co.

Harrington, Chancellor:

The bill alleges that by a contract, in writing, dated August 18th, 1941, Levi Tharp, one of the complainants, agreed to purchase a tract of land in New Castle County, Delaware, for $4,000, and that he paid $1,000 on account; the balance was to be paid on a specified date. He applied to the St. Georges Trust Company, a banking institution doing business at Newport, Delaware, for a loan of $3,000 in order to pay that balance when due. His application was granted, and the loan was to be secured by two mortgages, to be executed by him and Mary H. Tharp, his wife, the other…