Federal Land Bank, Louisville, Ky. v. Crombie

Opinion of the Court by

Judge Thomas

Reversing.

On September 28, 1922, the appellant and plaintiff below, the Federal Land Bank of Louisville, loaned to the appellee and one of the defendants below, David Crombie, $7,000, evidenced by a note of that daté and payable in annual installments through a period of years with a precipitating clause whereby the lender might declare the whole debt due and proceed to collect it after default in stipulated payments. Simultaneously with the creation of the debt, Crombie and his wife secured it by executing a mortgage on a farm mostly in Spencer county, but…