Castleman v. Canal Bank & Trust Co.

On July 16', 1925, the Canal Bank & Trust Company, of New Orleans, sold the property known as the McDaniel plantation, in Humphreys county, Mississippi, to S. and P. Castleman, residents of that county, at an agreed purchase price of one hundred twenty-five thousand dollars. The property was then incumbered by a first mortgage held by the Mississippi Fire Insurance Company for about thirty-seven thousand five hundred dollars. As a part of the purchase price the Castlemans assumed this first mortgage and gave the bank a series of eight notes to evidence the balance. In 1928 the insurance…