Eagle Lumber & Supply Co. v. Peyton

The appellant exhibited its bill of complaint in the court below against Mrs. L. C. Peyton, J. W. Peyton, and O. W. Pearson, alleging that they were indebted to it on their promissory notes, executed in January, 1925, secured by a deed of trust on certain described land, which deed of trust had been mailed to the chancery clerk for record but was not received by him and was lost; that in March, 1925, the Peytons executed a deed of trust to 0. W. Pearson to secure an indebtedness due him, and thereafter delivered to Pearson a deed to the land in settlement of the debt due him by them; that…