McCrea v. First Nat. Bank of Austin

Plaintiff owned in his name a $10,000 promissory note secured by a real estate mortgage. He loaned it to his father to be used as collateral security to his note to defendant for $680. Defendant prepared an assignment which was read and executed by plaintiff. It stated that the assignment was made as collateral to the note last mentioned and then added: “and for any other indebtedness of F. C. McCrea (the father) to the First National Bank” etc. The father had given a $13,000 note, and real estate mortgage securing the same, to one Hunt, who, in turn, had assigned the same to defendant as…