Dallas Joint Stock Land Bank of Dallas v. Lancaster

ALEXANDER, Justice.

In September, 1929, the Dallas Joint Stock Land Bank sold and conveyed to C. M: Lancaster 360 acres of land near the city of Waco and retained a vendor’s lien to secure the payment of a note in the sum of $29,000, payable in stipulated annual installments. Some of these installments were paid as they matured, but as the depression came on Lancaster was unable to meet his payments. In April, 1934, the Land Bank, claiming that Lancaster had failed to meet his payments as per his agreement, filed suit in the district court of Dallas county for its debt and for foreclosure of…