Zanes v. Mercantile Bank & Trust Co. of Texas

On September 5, 1931, the Mercantile Bank & Trust-Company of Texas filed suit in the court below, against W. R. Zanes and Seth Tate, on a promissory note of date March 19, 1931, for $18,000 in favor of the bank, together with interest and attorneys’ fees due thereon, and -for the foreclosure of an alleged equitable lien on certain stock certificates as security for the note. The bank, among other things, alleged that on May 22, 1930, Zanes and Tate owed the bank the sum of $22,200, and on that date Tate, acting for himself and for Zanes, executed a note for the sum of $22,200, payable to the…