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REED v. BARRON

No. 140-76.

381 A.2d 1065 (1977)

Verner Z. REED, III v. Brooks H. BARRON, H. Peter Dresser, and the Union Bank.

Supreme Court of Vermont.

December 20, 1977.

Attorney(s) appearing for the Case

Francis R. Peisch, Burlington, for plaintiff.

Sargent & White, Morristown, for defendant Union Bank.

Before BARNEY, C. J., and DALEY, LARROW, BILLINGS and HILL, JJ.

BARNEY, Chief Justice.

The plaintiff took a second mortgage back from the defendant purchasers on sale of certain property. The first mortgage was held by the defendant bank and contained an accrual clause to cover subsequent advances. The plaintiff, at the time the second mortgage was executed, directed his attorney to give the notice called for in 8 V.S.A. § 1207, to enable him to hold his secured position as against any subsequent advances by the bank. For...

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