Central Texas Ice Co. v. Thomas

On December 3, 1926, J. B. Thomas, who owned an ice plant in Brownwood, Tex., contracted in writing to sell same to L. F. Troxel for $90,000, payable $15,000 cash, the assumption by Troxel of Thomas’ indebtedness to the Temple Trust Company, aggregating about $14,000, and that to the Baker lee Machinery Company, aggregating about $13,000',; both of which were secured by liens on said plant. The balance was to be paid by the execution of notes secured by a vendor’s lien. On December 15, Thomas delivered to Troxel a deed to the premises and was paid the $15,000. At that time the notes of the…