Wallace v. McCabe

This is an action in equity praying that deeds absolute on their face be declared mortgages, that there be an accounting between the parties, and that the plaintiffs be permitted to exercise their equities of redemption.

During the years 1958 and 1959, the plaintiffs purchased three houses with moneys borrowed from the defendant McCabe. Titles to all three properties were taken in the name of the plaintiffs and subsequently transferred to the defendant McCabe. The two parties then embarked upon a course of lending and borrowing so intricate in nature that confusion resulted in at least the…