American Agricultural Chemical Co. v. Williamson

In 1920, J. W. and T. C. Gardner sold a farm in Duplin County and took a second deed of trust to secure a part of the purchase price, a first mortgage having been executed to the North Carolina Joint Stock Land Bank of Durham. On 3 January, 1924, the then owners of the land, R. E. Belcher, R. H. Knott and W. D. Dildy, gave the American Agricultural Chemical Company, Inc., a third mortgage on said land and incorporated in the same instrument a crop lien and first mortgage on certain personal property, the subject of controversy in this action. Thereafter, the second deed of trust, above…