Regold Manufacturing Company v. MacCabees

MASSEY, Chief Justice.

The question involved upon this appeal effectively presents the question of whether the method followed in effecting interim financing in connection with the erection of a building upon the lot of a mortgagor did actually accomplish the purpose intended in such transaction, — i. e., was the security of a first lien afforded by the deed of trust upon the note given for future advances necessary to be made to accomplish the complete construction contract?

It is the contention of the appellants that their mechanics’ liens for materials subsequently furnished were of equal…