Jordan v. Lavin

The report shows that the defendant, Lavin, did business under the name of Buchanan & Co. He owed the Pilgrim Trust Company $3,000 upon a collateral note made by him dated November 16, 1938, which became due and payable on February 16, 1939. Lavin pledged as collateral security for the note security worth as much as $5,850, consisting of six corporate coupon bonds of the denomination of $1,000 each, payable to bearer, the principal of which was not yet due, and fifty shares of General Water, Gas and Electric Company $3 preferred stock. The note provided that “any moneys or other property at…