[Download] "Wylie V. Douglas Lumber Co." by Arizona Supreme Court ~ eBook PDF Kindle ePub Free

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eBook details

• Title: Wylie V. Douglas Lumber Co.
• Author : Arizona Supreme Court
• Release Date : January 16, 1932
• Genre: Law,Books,Professional & Technical,
• Pages : * pages
• Size : 59 KB

Description

On or about January 4, 1929, the Mays entered into a contract with the Guaranty Building & Finance Company under the terms of which the latter agreed to construct upon said lots 21 and 22 a series of dwellings, garages, and a storeroom, and to furnish all the labor and materials therefor, for the sum of $14,200, to be paid by the Mays as follows: $3,500 cash and their promissory note for $10,700, payable in three years from its date, secured by mortgage on the premises. On the fourth day of January, 1929, the full contract price was paid by the Mays by turning over to the contractor $3,500 in cash or its equivalent in commercial paper, and their note and mortgage for $10,700 as agreed. This mortgage was filed and recorded on January 7th. On January 30th the payee-contractor assigned it to one George Allsup, and on the same day George Allsup indorsed the note, and assigned the mortgage to defendant Win Wylie as collateral security to the contractor's 90-day note for $5,250, made payable to said Allsup. These assignments were filed and recorded at the same time on January 31st.

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