Farmers' Life Ins. v. Wolters

On March 1, 1912, Jonathan Lane, of Harris county, Tex., executed in favor of the Continental Trust Company a deed of trust on certain land in Wharton county to secure the payment of a note for $10,000 due March 1, 1913. On June 1, 1913, Lane made a partial payment on the note, and on that date an indorsement in the handwriting of Lane was made on the back of the note, which indorsement is as follows:

“Time of payment of the balance of this note extended to March 1, 1914, June 1,1913. Continental Trust Co., by J. H. Thompson, President.”

No further payment was made on the note, and on May -27,…