Nielson v. Westrom

On July 8, 1922, defendant executed and delivered to E.C. White his promissory note for $2,000, due two years after date, together with a mortgage upon real estate securing said note. The note was negotiable in form. White thereafter, on or about January 16, 1923, sold and transferred the note to plaintiff by indorsement, the indorsement including a simple guaranty. At the same time the mortgage was assigned to plaintiff and both note and mortgage were thereupon delivered to plaintiff and have ever since been retained by him; and the assignment was recorded a few days thereafter. The note…