Fulton Building & Loan Ass'n v. Greenlea

Bass obtained a loan from a building and loan association, and to secure its payment he conveyed to the association a city lot? This loan was to be paid in weekly instalments in the manner prescribed by the rules of the association. The association delivered to him a bond to reconvey the lot when he should pay the debt according to his contract. He sold the lot to Murphey, transferring to him the bond for reconveyance, Murphey undertaking to pay the amount due the association. Murphey sold the lot to Mrs. Greenlea, receiving a part of the purchase-money in cash and taking her notes for the…