National Debenture Corp. v. Smith

CODY, Justice.

On August 28, 1928, S. M. Smith and wife, appellees, borrowed from the National Bond & Mortgage Corporation the sum of $2,250. This sum was the amount of combined indebtedness secured by a vendor’s lien and a mechanic’s and material-man’s lien on their homestead, and such sum was borrowed for the express purpose of renewing and extending such indebtedness and the liens securing their payment. To evidence such indebtedness, the appel-lees gave their note No. 1 for $2,250, and their note No. 2 for $419.13, and their note No. 3 for $233.28, and additionally secure the payment…