Wynnewood State Bank v. Brigham

FANNING, Justice.

Appellee sued appellant and appellant filed a cross-suit. Appellant sought to foreclose its deed of trust lien securing a note executed in 1960 payable over a ten year period. Appellee, the widow of the maker of the note, contended to the effect that the indebtedness was cancelled for failure of appellant to perform an oral agreement to procure credit life insurance upon the life of her husband, the maker of the note.

On August 16, 1960, the decedent executed his note to the bank for $21,000.00 pay able in monthly installments of $233.16 for a period of ten years, secured by…