Wright v. Terrell

GLADNEY, Judge.

Under date of September 30, 1959, Jack Terrell and William C. Wright executed an authentic act of sale wherein Terrell sold to Wright seventeen lots of the Terrell Hills Subdivision of the City of Shreveport for a recited consideration of $42,787.50, of which amount $2,000.00 was paid in cash and the balance of $40,787.50 on credit, represented by Wright’s note secured by a vendor’s lien and special mortgage. The act of sale provided for partial releases from the vendor’s lien and mortgage upon payment of specified sums. In such manner ten of the lots were released from the…