B & B Pharmacy & Drug, Inc. v. Lake Air National Bank of Waco

OPINION

HALL, Justice.

Appellee bank brought this action to recover the balance of a note secured by a deed of trust, after the bank had caused a trustee’s sale and bought in the property. The appellants, B & B Pharmacy & Drug, Inc., Roy Booth and Maurine Booth, were co-makers of the note. The deed of trust was executed by B & B Pharmacy and Drug, Inc., owner of the realty. Roy Booth is “president and principal stockholder” of B & B.

B & B filed a cross-action alleging that on the date and occasion of the sale it “was not in default in any manner on the payment of such note or otherwise;” that…