Valente v. Costantino

In December, 1926, the plaintiff was engaged in constructing an apartment house upon certain premises owned by his wife. The defendant loaned them $11,800 and later $5600, in each instance receiving a mortgage upon the premises executed by the wife. Within less than a month after the second mortgage was given, the plaintiff’s wife conveyed the property to him. He then executed to Dominick Celotto a negotiable note for $20,000 payable on demand, secured by a mortgage upon the premises. The plaintiff’s indebtedness to Celotto at the time did not exceed $3150, although some time later Celotto…