Callaway v. Snead

In December, 1926, J. W. Callaway and wife executed a deed conveying to the appel-lee Snead fifty acres of land in Grayson county and four lots in the town of Howe. The deed was in the form of an absolute conveyance and recited a cash consideration of $10,000. In August, 1928, Callaway and wife filed this suit to cancel that deed. They alleged as a ground for cancellation that the farm land described in the deed was at the time a part of their homestead and that the deed was intended to operate as a mortgage of that property to secure a debt; that no part of the consideration recited in the…