Defendant Campbell assigned a contract to purchase land from the plaintiff to the defendant bank, the evidence being undisputed that the assignment was additional security for an existing indebtedness of Campbell. A printed form containing a promise by the assignee to pay the purchase price was used. The name of the assignee was left blank in order that the name of a prospective purchaser could be filled in if an anticipated sale materialized. In an action to foreclose the land contract the vendor asked for a deficiency judgment against the defendant bank. Held, that the vendor was not entitled to a deficiency judgment against the bank in spite of the failure to erase the express promise to pay. Kreuger et al. v. Campbell et al., 264 Mich. 449, 250 N. W. 285 (1933).
CONTRACTS - LIABILITY OF THE ASSIGNEE OF A LAND CONTRACT - REFORMATION BY EXTRINSIC EVIDENCE,
Mich. L. Rev.
Available at: https://repository.law.umich.edu/mlr/vol32/iss4/13