Thigpen v. Rothwell

Plaintiffs sued to foreclose a mortgage which secured a promissory note given by defendants in payment of the purchase price of the corporate stock of E. Cosgrove, Inc., which we will refer to as the corporation. Defendants admitted the indebtedness but claimed an offset based on certain taxes paid by them. The trial court ruled that defendants were not entitled to the offset and defendants have appealed from the judgment which granted to plaintiffs the full amount of the indebtedness.