MELLITZ, J.
On December 3, 1957, the defendant corporation, hereinafter called Wallace, and Regina Realty Corporation, hereinafter called Regina, owed the petitioner, Maurice E. Proctor, $55,000. On that date, the two corporations executed a joint and several promissory note to him in that amount. To secure payment of the note, Wallace executed a chattel mortgage of its machinery and Regina executed a mortgage of its realty. The corporations constituted a family holding...
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