Wilmington Sav. &. Trust Co v. Wilder Et Ux
Decision Date | 28 February 1934 |
Docket Number | No. 430.,430. |
Citation | 206 N. C. 124,172 S.E. 884 |
Court | North Carolina Supreme Court |
Parties | WILMINGTON SAVINGS &. TRUST CO. v. WILDER et ux. |
Appeal from Superior Court, New Hanover County; Sinclair, Judge.
On May 7, 1930, the defendants executed and delivered to the plaintiff, as trustee of the perpetual agreement fund of the Oakdale Cemetery Company, two promissory notes in the sum of $2,000 each. These notes were secured by a deed of trust on certain prop erty in Wilmington. The payees in the notes were the trustees of the perpetual agreement fund of Oakdale Cemetery Company, and the plaintiff is the successor of said trustees by virtue of chapter 69 of the Private Laws of 1931. The trustee, in the deed of trust securing the notes, upon default, advertised and sold the property on August 30, 1932, and the plaintiff became the last and highest bidder for said property. After crediting the proceeds of the sale upon the loan there was a deficiency of $2,668.28, and this action was instituted for the recovery of said amount.
The defendants alleged ...
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