Illinois Life Insurance v. Young

The opinion of the court was delivered by

Dawson, J.:

This appeal is concerned with the rival and adverse interests of parties who were codefendants in a suit to foreclose a first mortgage on a 9,300-acre ranch in Comanche county.

The controversy which is of present concern arose thus: William F. Young sold the ranch to L. D. Alexander, subject to a first mortgage held by the Illinois Life Insurance Company, taking in part payment therefor nine coupon promissory notes of Alexander and wife, aggregating $44,900, dated March 12, 1919, due in five years, bearing 6 per cent interest, and to draw 10…