Magee v. Robinson

Minor W. Millwee, Justice.

Appellees, O. J. Robinson and wife, owned a farm in Phillips County which they sold to appellant, R. P. Magee, on April 4, 1946. Appellees conveyed by warranty deed with lien retained to secure payment of $5,000 balance of the purchase price evidenced by ten notes of $500 each payable annually beginning January 1, 1947, and bearing interest at six per cent, from that date. Upon appellant’s-refusal to pay the first note when due, appellees instituted this suit to recover judgment for $500 and to foreclose the lien reserved in the deed.

Appellant defended on the ground…