Terry v. Bellamy

Opinion of the Court by

Yan Sant, Commissioner

Reversing.

On January 5, 1939, Mrs. Geneva Daniel Pratt conveyed to Mrs. Lottie Terry a certain lot in the city of Marion, Crittenden county, in consideration of the payment of $700 in cash and the assumption of the payment of a $1000 mortgage indebtedness against the property. On the same day, but by separate instrument, Mrs. Terry agreed to reconvey the lot to Mrs. Pratt, upon the payment by her to Mrs. Terry of the sum of $700 and the assumption by Mrs. Pratt of the mortgage debt. On June 3, 1939, Mrs. Pratt assigned the benefits of the option to…