Ellis v. Arnold

Mrs. Nannie Burch conveyed to E. K. Longan two lots in the town of Newcastle, in part consideration for which Longan executed his two notes secured by a vendor’s lien on the property, each for the principal sum of $1,000. The notes were dated August 5, 1919; one matured January 1, 1920, and the other January 1, 1921.

Longan sold the two lots to R. F. Arnold, Jr., who assumed payment of the notes, and as a' further consideration for the sale he executed to Logan his note for $500, dated January 20, 1920, which recited that it was secured by a vendor’s lien on the lots, but that the lien was…