Merchants & Planters Bank v. Hall

1. If a vendor of land executes to the vendee a bond for title and receives purchase-money notes for deferred payments which he indorses in blank and delivers to a bank as collateral security for his debt to the bank, without any indorsement and delivery or other transfer of the bond for title, the bank by such pledge of the notes will acquire such equitable interest in the security afforded by reservation under the bond for title as will enable it to enforce the security as against the obligee or general creditors of the obligor (Carter v. Johnson, 156 Ga. 207 (4, 5), 119 S. E. 22; Gholston…