Farmers' Bank & Trust Co. v. Taylor

On November 27, 1922, Mrs. Clara Taylor borrowed $531 from the ¡Bank of Taylor, of Taylor, Arkansas, and to secure the payment thereof executed a deed of trust, by the terms of which she conveyed to a trustee for the bank three lots in the town of Taylor, upon which a small building was located. Before the maturity of the note, the Bank of Taylor borrowed $10,000 from the Farmers’ Bank & Trust Company, of Magnolia, Arkansas, and indorsed and delivered Mrs. Taylor’s note, along with other notes, as collateral security for that loan. About the time Mrs. Taylor’s note fell due, Romie Taylor, her…