First Nat. Bank of Butler v. Welch

Opinion by

RAY, C.

The land involved in this suit was purchased! from the School .Land Department by James A. McFarland making the initial payment and executing his certificate of purchase notes for deferred payments, and receiving a certificate of purchase as required by the laws of the state governing the sale of school lands. January 23, 1920, McFarland, joined by his wife, transferred and assigned the certificate of purchase to A. L. Smith," E. T. Sumrall, Frank Mitchell, and M. H. Fariss in satisfaction of a note and mortgage on the land held by them. Smith, Sumrall, Mitchell, and Fariss,…