American Savings Bank & Trust Co. v. Peterson

Citations

• 112 Wash. 101
• 191 P. 837
• 1920 Wash. LEXIS 712

Syllabus

<p>Moktgages (32)—Validity—Mental Capacity—Evidence—Sufficiency. In an action to foreclose a mortgage, a finding of mental capacity to execute the note and mortgage is sustained where it appears that the maker was competent to manage his affairs, although there may have been some impairment of mentality as compared to times when the maker was at his best.</p> <p>Same (144)—Fobeclosure—Defenses—Want of or Failure of Consideration—Evidence—Sufficiency. In an action to foreclose a mortgage given as security for stock purchased in a trust company, want or failure of consideration are not shown from the fact that the concern was in an unprosperous condition, where no representations were made as to the value of the stock, and the purchaser, who was vice president of the concern, had knowledge of the conditions and believed that care and skill would restore its prosperity, and that the stock would prove a profitable investment.</p>