Guaranty Mortgage Co. v. Nowell

ALEXANDER, Justice.

This appeal challenges the correctness of the ruling of the trial court on the pleas of privilege filed by the defendants. In 1931, the Guaranty Mortgage Company, a corporation, entered into a written contract with G. L. Nowell for the exchange of certain real properties owned by said parties and situated in Cleburne, Johnson county. By the terms of the agreement, Nowell was to execute a vendor’s lien note in the sum of $1,650 on the property received by him. Said contract further provided, in part, as follows: “It is also agreed and understood by the party of the 1st part…