Ocean Frontage Co. v. McFadden

H. W. McFadden held a mortgage from Ocean Frontage Company, a Florida Corporation, to secure the payment' of three promissory notes aggregating in amount $69,500. The notes were all dated September 17, 1925, and were payable in one, two and three years respectively.

The mortgage was upon lands lying in Nassau County Avhich McFadden had sold to the corporation and the debt represented by the three notes was for the balance of the purchase price of the land. On the same day upon which rhe Ocean Frontage Company acquired the lands it sold to Russ J. Christy an undivided half interest in them. Tn…