Southward v. Foy

OPINION

By the Court,

Badt, J.:

On June 3, 1926 Joan J. Warren loaned to George M. Southward, among other securities, a $1,000 United States Steel Corporation 5% bond “to be used as security for a loan.” Over twenty years later, on January 3, 1947, she filed suit against Southward’s executor for the value of the bond. In the meantime a number of incidents intervened. About a month after the loan Joan Warren and George M. Southward intermarried. The United States Steel Corporation called the bond' for redemption on November 1, 1929 and the bond was surrendered for redemption (by whom it does not…