Albers v. Bierman

This action was a suit by appellee to foreclose a trust deed executed by appellant Bierman and one Hyman Goldstein, on December 15, 1926, to secure a note in the sum of $8,250, due LeRoy Bracher, and which represented the unpaid purchase price on certain real estate purchased by them from him. On or about January 6, 1931, Bracher obtained a loan from the Waukegan State Bank, in the sum of $8,305.13, for which he executed his collateral note, pledging therein as security, the above note and trust deed and delivering same to the bank. The bank appears to have gone into receivership in the early…