Coffman v. Brannen

The appellee Brannen owned the Motley county school lands situated in Bailey county, Tex., subject to an incumbrance for part of the purchase money due Motley county. On August 31, 1922, he sold the land to T. W. Coffman, who, as part consideration therefor, executed ten purchase-money notes in the sum of $736.58 each, payable to Brannen on or before January 1, 1924 to 1933, respectively. The interest rate was 6 per cent, with the usual accelerating clause and provision for 10 per cent, attorneys’ fees. A vendor’s lien was expressly retained upon the land to secure the payment of the notes.…