English
English v. Culley
Opinion
lead Opinion
Tyler, J.
This action was commenced by plaintiff for the purpose of obtaining a decree declaring a certain trust deed made by the defendant Smith to the plaintiff to be a mortgage to secure a note executed by the defendants Culley to the plaintiff and foreclosing the same. The defendants filed an answer .claiming certain credits in addition to those admitted by the plaintiff in his amended and supplemental complaint, and the action developed into one for an accounting between the parties. The amended and supplemental complaint alleged in substance that on the twenty-fourth day of June, 1920, the defendants Fern Hays Culley and B. F. Culley were indebted to plaintiff in the sum of $49,892, and on the thirty-first day of July, 1920, they executed and delivered to plaintiff their promissory note for said amount. The note is then set forth in haee verba. It provides for interest at the rate of twelve per cent per annum from date until paid, interest payable semi-annually and if not so paid to be compounded and bear interest at the same rate as the principal. The complaint further alleged that on the twenty-fourth day of June, 1920, the defendant M. B. Smith, a widow, for the purpose of securing…