Randall v. Cruce

Banke, Judge.

The appellants sued the appellees to collect on a promissory note given to them in partial payment of the purchase price of a tract of land. The sale was made subject to two prior deeds to secure debt, and the note was secured by a third deed to secure debt executed to the appellants by the appellees. Under the terms of this latter security deed, the appellees agreed to assume the indebtedness on the first two security deeds, and the appellants agreed to release 28 acres from the lien of their security upon receipt of the appellee’s down payment. This security deed also provided…