Southern Casualty Co. v. Ross

LAND, Justice.

In May, 1919, the defendant, James B. Ross, purchased the property' foreclosed on in this suit, and for the credit part of the purchase ■ price executed a note for $10,-000, secured by mortgage and vendor’s lien on the property.

In March, 1927, the defendant, being then interested in the New Orleans Underwriters’ Agency, which was doing business with the plaintiff, the Southern Casualty Company, and was indebted to it, made to the casualty company a continuing guaranty of the obligations of the agency company and, further to secure them, issued his note for $17,-500 secured by…