Farmers and Stockmens Bank of Clayton v. Morrow

(concurring specially)-

I would add the following facts to those recited in the opinion:

The mortgage against the one-third interest in the lands (actually a security agreement) provided that the secured indebtedness might be increased or decreased from time to time. The loan for $30,475 was deemed by all parties as part of this “open-end” agreement with the Bank even though a separate security agreement on the cattle had been executed.

No contention was ever made by the parties that, after he acquired the deed, the position of James” Morrow, Sr., to the Bank differed materially from that of the…