Kresos v. White

The defendants, John and Helen Kresos, gave to the Old Dominion Bank, on August 27, 1931, their promissory note for $1,000, bearing interest at 10 per cent, payable one year after date, and to secure it made and delivered to the bank their mortgage on an undivided one-third interest in lot 607, block 30, of the original town site of Miami. April 15, 1932, the Old Dominion Bank went into insolvency and was taken over for liquidation by the state superintendent of banks. Thereafter, on January 30, 1935, the defendants having defaulted in the payment of said note, the said superintendent of…