Nature of the Case
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Facts
On June 12, 1928, Frances and Thomas Brown, husband, and wife, executed and delivered to Morstain (P) their promissory note for $400, payable in two years from date. The note was secured by a mortgage on the property. On June 12, 1928, the Browns conveyed the premises by warranty deed to D, subject to said mortgage, and as part of the consideration, D assumed and agreed to pay the note and mortgage. D paid two installments of interest to P and on November 1, 1928, reconveyed the premises to the Browns by warranty deed for $15, subject to the mortgage. P commenced this action in April 1931, to recover the amount due and unpaid on the note. P got the judgment against D for $432.07, and D appealed.
Holding and Decision
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Legal Analysis
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