Maddox v. Bynum

Opinion of the Court by

Judge Hannah

Reversing.

On June 14, 1911, W. J. Hannon borrowed from the Union Central Life Insurance Company eight hundred dollars, evidenced by his note due ten years after date bearing six per cent interest, payable annually, and to secure the payment thereof he executed and delivered to the insurance company a mortgage on 52% acres of land in Fulton County.

On December 7, 1912, he sold and conveyed the land mentioned, to E. G-. Maddox, in consideration of seven hundred and fifty dollars cash in hand paid, and of the grantee’s assumption of the mortgage to the insurance…