Ruth v. Lites

James H. Pilkinton, Judge.

On September 5, 1955, James Ruth and wife were the owners of the Northeast Quarter of the Northwest Quarter (NE Vk NW Vk) of Section Twenty (20), Township Six (6) South, Range Twenty-Six (26) West, in Grant County, Arkansas, containing 40 acres, more or less. On that date they borrowed $1,055.00 from Dr. L. Routen and wife. Mr. and Mrs. Ruth executed a warranty deed to the Routens conveying this land. However, the parties to that transaction also executed a Sales Agreement under which the Ruths would be permitted to repurchase the land; and in connection with this…