Buckeye Cotton Oil Co. v. Taylor

This action was begun by appellee in the Lincoln Chancery Court, in which judgment was asked against the appellant for $2,450 and interest..

In 1929 the appellant made a loan in the sum of $10,000 to the Merchants ’ & Farmers ’ Grin Company, and, as security therefor, took a mortgage on the gin and land on which it was located.

The Merchants’ & Farmers’ Gin Company, in addition to the mortgage, executed a written contract by which it agreed to sell and ship to the Buckeye Cotton Oil Company all cotton seed ginned at its gin during the year 1930, and until said loan was repaid.

The complaint…