Nowell v. Pate

LAWSON, Justice.

In 1948 O. S. Nowell was indebted to The Farmers & Merchants Bank, Ash-ford, Alabama. The debt which was evidenced by a promissory note was secured by a mortgage on approximately ninety-one acres of land in Houston County and on certain items of personal property.

On February 1, 1950, the note and mort-. gage were transferred by the Bank to. Jack Pate. At that time the amount of the mortgage debt was approximately $4,-000.

Shortly thereafter, on February 10, 1950, O. S. Nowell and his wife, Ludie Mae Nowell, executed a written instrument concerning the said ninety-one acres of…