Peoples Bank v. Waggoner

DREW, Judge.

On September 8, 1928, W. D. Womack sold to Arminda Waggoner, and W. W. Waggoner, her husband,’80 acres of land situated in Jackson Parish, Louisiana. The consideration was $800, payable $500 in cash and two notes for $150 each payable October 1, 1929 and 1930, respectively, bearing 7% per annum interest from date until paid and 10% upon both principal and interest as attorney’s fees, if collection by legal process became necessary. The notes were duly para-phed to identify them with the act of mortgage and vendor’s lien and the 80 acres were specially mortgaged to secure the…