Ray v. Thomas

The single question presented by this appeal is the proper construction of the following peculiar provision of a trust deed given to secure the balance of purchase money on river lands in Tipton County:

“ First party reserves the right to have said land surveyed at the first time the Mississippi River reaches a stage of 2.2 feet on the Memphis gauge; should such survey show less than 2200 acres, principal note No. 13 shall he credited with an amount equal to $10 per acre for such deficiency; should there be an excess of 2200 acres this trust deed shall secure an additional sum equal to $10 per…