Wood v. Parker Square State Bank

400 S.W.2d 898 (1966)

A. J. WOOD, Jr., Petitioner,

v.

PARKER SQUARE STATE BANK, Respondent.

No. A-10867.

Supreme Court of Texas.

March 23, 1966.

Prothro & Sellers, Wichita Falls, for petitioner.

Nelson, Montgomery & Robertson, Wichita Falls, for respondent.

STEAKLEY, Justice.

On August 1, 1962, the Respondent bank loaned Lincoln Enterprises, Inc., the sum of $125,000.00, evidenced by a promissory note payable in five annual installments. The note was secured by a duly recorded deed of trust lien on 34.6 acres of land in Wichita County. The provisions of the deed of trust regarding future indebtedness…