Wright v. North River Ins.

WALKER, Circuit Judge.

The appellant, F. A. Wright, without a valuable consideration moving to him, indorsed in blank before its delivery a promissory note of C. R. Castleberry for $11,000, payable to Greenwood Savings Bank (herein called the bank), or bearer. When appellant made that indorsement, it was understood between him, Castleberry, and the hank that the note would be secured by a mortgage or deed of trust of the maker on designated property, which was to be insured by Castleberry against fire. Pursuant to that agreement, Castleberry executed a deed of trust, which, in describing the…