Sullivan v. Federal Farm Mortgage Corp.

The Federal Farm Mortgage Corporation, acting by and through the Land Bank Commissioner, acting under the act of Congress approved May 12, 1933, brought suit against Mrs. C. W. Sullivan and others, as administratrices of the estate of Mrs. Flora Bailey, deceased, on a promissory note. The petition alleged that on April 26, 1934, Mrs. Flora Bailey executed and delivered to the Land Bank Commissioner the note sued on in the amount of $1540 and defaulted in certain payments due thereon; that the land held as security for the note was sold under foreclosure proceedings on May 5, 1936, for the sum…