Farmers' Cotton Finance Corp. v. Cotton Finance & Trading Corp.

The parties to this appeal appear to have been engaged during the year 1930 in financing cotton farming through crop mortgages in Dona Ana county, N. M. One Baeza leased a certain thirty-acre tract for that year from a landlord by the name of Murphy under a tenancy which reserved to the landlord one-fourth of the crops which should be produced on the leased premises. Baeza sublet verbally to Paz Garcia, stipulating that the latter shoüld return the one-fourth rental to Baeza’s landlord and reimburse Baeza’s promised advancements to Garcia in the production of said crops.

After subletting to…