Hughes v. Security Building & Loan Ass'n

SMITH, Justice.

It appears that W. P. Anderson owned a house and lot in the city of Mission, and agreed to sell the property to W. O. Hughes for a stipulated consideration, including a $1,600 vendor’s lien note to be executed by Hughes in favor of Anderson and converted into cash to be paid Anderson. The idea was that Anderson was to get all cash for the property, by the simple device of procuring a third party to advance the sum in cash upon Hughes’ note. This contract was made between Anderson and Hughes and placed in escrow in a bank, to await negotiations.

In this situation Hughes…