English v. Southwest Broadcasting Co.

McClendon, Chief Justice.

This case arose out of the following facts shown by the pleadings:

April 14, 1932, appellee Edwards purchased from appellant Mrs. English 10,000 shares of stock in the K. U. T. Broadcasting Company for $12,000, $5,000 cash, and the remaining $7,000 evidenced by a negotiable promissory note, payable in installments of $150 per month for twelve months, beginning June 15, 1932, and $250 per month thereafter. Edwards executed to Mrs. English a chattel mortgage upon the stock to secure the note, which authorized foreclosure at public or private sale with notice. Under a…