Michigan Supreme Court June 5, 1922, Docket No. 109 (Federal Bond & Mortgage Co. v. Shapiro)

Wiest, J.

Plaintiff holds a mortgage on certain Teal estate to secure the payment of $25,000, payable in installments, one of which, amounting to $1,500, fell due September 8, 1921. The maker of the mortgage sold the mortgaged premises to Max Stotter and wife, and they, after placing a second mortgage of $20,000 on the premises, sold and conveyed the same to defendant on March 22, 1921.