Mid-State Homes, Inc. v. Johnston

SIMMS, Justice:

Plaintiff, Mid-State Homes, Inc., (Mid-State) sued defendants David Johnston and Edith Johnston (David’s former wife) to recover on a promissory note and to foreclose the real estate mortgage securing the note.

Defendants had entered into a building contract with the Jim Walter Corporation on May 14, 1965, for the construction of a “shell” house on their property in Atoka County. As security for payment the defendants executed a promissory note • and mortgage to the Jim Walter Corporation for the principal sum of $8,092.00 payable at the rate of $56.20 per month. Mid-State…