Frank v. Applebaum

On November 17, 1926, Julius Berman and his wife conveyed certain real estate in the township of Pontiac, in the county of Oakland, to the defendant Harry R. Applebaum, and on the same day Applebaum and his wife executed a mortgage thereon to Berman for $77,500 to secure the payment of a promissory note for that amount. On March 12, 1927, Berman assigned the mortgage and note to the plaintiffs, Harry Prank and Samuel Prank. In the meantime, nothing had been paid thereon. On September 15, 1927, Applebaum, for a consideration of one dollar and other valuable consideration, conveyed an undivided…