State Life Insurance Co. v. Cast

—The American Trust Company of Kokomo, Indiana, on March 2, 1925, loaned to one Cast $4,000 evidenced by two promissory notes, one for $500 and the other for $3,500, both due on the same date, and secured by a mortgage on real estate not of sufficient value to pay and satisfy the mortgage loan. Shortly thereafter, both of these notes, together with the mortgage, were assigned by indorsement to the appellant. Within a short time thereafter, the $500 note was reassigned by indorsement by appellant to the American Trust Company, which company thereafter sold and assigned it to appellee, Edward…