Commercial Bank & Trust Co. v. Buford

Birdsong, Judge.

The Commercial Bank & Trust Co. entered into a loan with Buford, advancing money to Buford to purchase land for a homesite. The bank took a security deed on the land. Buford made the first installment payment on time, was slightly late (by three days) as to the second, a month late as to the third, and was almost three months late prior to the fourth payment. A bank official contacted Buford and advised that the note was in danger of foreclosure. Buford made the fourth payment on that day (the day of the conference) and made two other payments (the fifth and sixth) ten days…