Citizens' Bank v. Frazier

Early in the fall of 1928 appellant bank solicited the cotton account of appellee, and in response thereto it was ■proposed by appellee that the business would be given to appellant, provided the latter would keep the cotton insured up to the aggregate amounts of. all loans made to appellee for cotton purchases, to which provision appellant agreed. In pursuance of said arrangement appellee, on October &, 1928, obtained from appellant a loan of two thousand five hundred for said cotton account, and gave his note secured by a deed of trust on forty-five 'bales of cotton, said then to be stored…