Kentwood Bank v. McClendon

On June 5,' 1913, the Kentwood Bank sold to E. S. Pike 600 acres of land situated in the parish of St. Helena. The deed recited that the sale was made and accepted for a valid and valuable consideration, “heretofore paid and delivered to the vendor and the further price and sum of $2,700, payable in nine equal annual installments, dating from April 18, 1913, for which Pike executed his nine promissory notes to his own order and indorsed in blank.” The act of sale provided that, on default of the payment of any one of the notes at maturity, all of the other notes should become due and payable.…