Ray v. Etheridge

Atkinson, Justice.

' The first question for decision is whether the deed absolute in form from Bay to Etheridge, executed on July 8, 1915, while the house was under construction, was in fact a security deed. The deed was signed at the request of Etheridge when' he informed Bay that it would be impossible to complete the house Etheridge had contracted to build. At the time the deed was executed, Bay, in addition to having previously paid for the vacant lot, and having also paid $200 in cash, still owed Etheridge approximately $1500 on' the contract to build the house. Each of the notes Bay gave…