Belton v. Farmers & Merchants Bank

Tbe essential facts upon which tbe case pivots are as follows:

1. On 15 December, 1919, tbe plaintiff W. R. Belton gave bis note' of $200 to Mrs. L. E. Coleman, representing a part of tbe purchase price of certain lots, and, to secure tbe payment of said note, executed a deed of trust, conveying said lots to E. B. Kemp, trustee.

2. Prior to 5 May, 1921, this note was, by partial payment, reduced from $200 to $100; and on said date Mrs. Coleman assigned tbe note in question, and deed of trust securing it, to tbe defendant.

3. At this time tbe plaintiff W. R. Belton was indebted to tbe Farmers and…