Griffith v. Salleng

Irvine, C.

The facts in this case are in their essential features undisputed. Salleng, being then the owner of certain land, executed a mortgage thereon to secure the payment of a bond for $2,500 to the Western Farm Mortgage Trust. Company. The bond bore interest at the rate of seven per cent per annum, payable semi-annually, and represented by coupons attached to the bond in the form of negotiable promissory notes. Five of these coupons were assigned to a trustee representing holders of bonds of the trust company, for the purpose of securing such bonds. The principal bond was assigned to the…