Acree's Committee v. Blalock

Opinion of the Court by

Commissioner Hobson

Affirming.

On October 1, 1919, N. J. Blalock conveyed :to B. E. Aeree a tract of 349 acres of land in Craves county for ■which Aeree agreed to pay $30,000:00. He paid $4,000.00 cash, assumed some liens upon the property, and executed notes for the remainder of the purchase, due in one, two, three and four years, with interest secured by a lien on the tract of land purchased, and also by a mortgage on another tract of land he owned. If .the interest on the notes was not paid annually, then all the notes became due. In February, 1922, B. E. Aeree was…