Lion Oil Refining Co. v. Crystal Oil Co.

Prior to July, 1932, the appellee Crystal Oil Company was indebted to the appellant in the sum of ten thousand nine hundred twenty-one dollars and fifty cents, secured by a deed of trust on real estate in Aberdeen, Mississippi. The note evidencing this indebtedness was renewed from time to time, but in July, 1932, the indebtedness being then past due and unpaid, foreclosure proceedings were begun, and the property covered by the deed of trust was advertised for sale on September 5, 1932. On the day of the proposed sale, the Crystal Oil Company filed a bill in the chancery court alleging that…