Heather v. New Spartan Building & Loan Ass'n

Opinion by

Cunningham, J.,

On January 1, 1932, New Spartan Building and Loan Association, defendant below and appellee herein, was the registered owner of premises at Nos. 867-9 Brill Street in the City of Philadelphia, .and Annie E. Heather, plaintiff below and appellant herein, was the owner of bonds, secured by first mortgages, upon these properties. She had purchased the securities from Philadelphia and Suburban Mortgage Guarantee Company under a contract of guaranty by which that company guaranteed to her, as “the insured” thereunder, payment of principal and interest of the bonds and…