Guaranty Bond State Bank of San Angelo v. Duncan

McCLENDON, C. j.

This litigation arose out of the following facts, undisputed except where noted:

In June, 1927, L. P. and J. P. Duncan, father and son, were each indebted to Guaranty Bond State Bank of San Angelo, in the approximate sum of $14,000. The father’s indebtedness was secured by chattel mortgage upon live stock, farm implements, and other personal property of like character, by deed of trust on 1,406.5 acres of land, and by pledge of $12,500 in vendor’s lien notes executed by the son to the father in parjt payment for 214.32 acres of land sold by the father to the son. The son’s…