Lively v. Drake

OPINION

HARBISON, Chief Justice.

In this action the Chancellor enjoined ap-pellees from foreclosing a deed of trust which secured a note executed by appellants and held by appellee Drake. The Court of Appeals reversed and this Court granted review.

There is no dispute concerning the material facts. On August 15, 1972, appellants, Mr. and Mrs. Lively, executed a promissory note in the principal amount of sixteen thousand dollars payable in monthly installments to Ronald L. Rayfield, Trustee. The note was secured by a deed of trust upon the residence of appellants in Hamilton County. On December…