Southwestern Motels, Inc. v. Rollnick Stores, Inc.

Opinion by

Mr. Justice Day.

Plaintiffs in error, as plaintiffs in the trial court, filed an action in which they sought to have a warranty deed, executed by them and given to the defendants, declared to be a mortgage.

Plaintiffs were operators of a motel in Trinidad and encountered financial difficulties which resulted in a receiver being appointed to operate the motel business and a foreclosure suit being instituted against the motel *294property. They had tried unsuccessfully to obtain a loan on the property to enable them to redeem from the foreclosure; and finally, through third persons they…