Neely v. White

On November 1, 1927, Clara J. Neely, the plaintiff below, made a loan of $2,500 to -Cape Henry Cottage Corporation. This obligation was evidenced by a negotiable note payable two years after date, with six per cent interest payable semi-annually. It was secured by a deed of trust on a lot in Glencove Estates.

Cape Henry Cottage Corporation conveyed the lot to Grover L. White, the defendant below. The deed was made on February 1, 1928, and White expressly assumed the payment of the $2,500 due Clara Neely as a part of the consideration for the lot. He signed and sealed the deed as evidence of…