Pye v. Grunert

Plaintiff takes the position that because when the loan was closed the 90-day period had expired within which the Stanton bank had agreed to take, in full satisfaction of its mortgage, $3,000 in bonds of the Home Owners Loan Corporation, he was at liberty to make a contract that defendant should pay the bank, by reimbursing plaintiff, for the difference between the market and par value of the bonds. Notwithstanding the expiration of this 90-day period, when the parties were notified that the loan was ready to be closed, plaintiff and defendant went to the loan corporation's office in…