Rio Grande Nat. Life Ins. Co. v. Hardware Dealers Mut. Fire Ins. Co.

STOKES, Justice.

On July 21, 1944, Richard W. Valentine purchased a lot and residence located in the city of Dallas paying therefor a consideration of $6,250, of which amount $1,250 was paid in cash and the balance was evidenced by a note in the sum of $5,000, executed by Valentine and payable to the appellant, Rio Grande National Life Insurance Co. The note was secured by a vendor’s lien and, as additional security, Valentine executed a deed of trust on the property. On July 25, 1944, the appellees, Hardware Dealers Mutual Fire Insurance Company and Mutual Implement and Hardware Insurance…