Electric Railway Securities Co. v. Hendricks

The hill herein was filed, in the Kent circuit, in January, 1928, to foreclose a purchase-money mortgage of $165,000, upon property in the city of Grand Rapids. The- mortgagors appeared, raised no issue of amount due, but interposed the defense that plaintiff, a foreign corporation, not admitted to carry on business in this State, was carrying on business here in holding title to real property and in selling and conveying the same to defendants and taking the mortgage in suit, and, therefore, could not bring suit and have decree of foreclosure. Prom time to time the hearing was postponed, but…