Spence v. Erwin

Wyatt, Justice.

The controlling question in this case is whether the transaction referred to in the foregoing statement was a sale of the stock by the plaintiffs to the defendants with, an option to-repurchase it from them within a given time for a specified sum of money, or a transaction in which the plaintiffs borrowed money from the defendants and pledged the stock as collateral security. We must look to the petition, as amended, for the answer to this-question. “Whether a given transaction is a sale of land with right to repurchase, or a loan of money with the title to 'the land taken as…