Misenhimer v. Perkins Oil Co.

George Rose Smith, Justice.

The question in this case is priority of lien between two real estate deeds of trust, which we will refer to as mortgages, executed by Parsons Gin Company. The earlier mortgage was executed by the gin company on April 30, 1957, and is held by the appellee, Perkins Oil Company. The later mortgage was executed by the gin company on January 5. 1967, and is held by the appellant, Security Bank of Paragould. The chancellor upheld the oil company’s claim to priority under the earlier mortgage. We find the decree to be correct.

The controlling issue is really whether the…