Peoples Savings & Loan Ass'n v. Smith

This action was brought on a note in the sum of eighty thousand dollars, and to foreclose a real estate and chattel mortgage given to secure the payment of the note. They were executed and delivered to the plaintiff by Andrew G. Smith, a bachelor, one of the defendants. After the mortgage was given, the property was sold by Smith to the defendant Verona Investment Company, a corporation; the grantee not assuming to pay the mortgage or any of the obligations specified in it. The Frances Investment Company, a corporation, was also made a defendant, because, as alleged in the complaint, it…