Continental State Bank of Rising Star v. Seibold

LATTIMORE, Justice.

Appellee held a first mortgage, payable in installments with acceleration clause, on the Eanes farm. Appellant held a second mortgage on that farm. On January 8, 1930, the agent of appellee wrote to appellant:

“It seems that John A. Eanes is up against it and cannot make payment due on his loan on his 158⅛ acres in Eastland County, on which we have a loan secured by first deed of trust.

“Our records show and Mr. J. R. Eanes tells me that you have a second and inferior lien on this land for something like $1000.00 or $1100.00.

“Before doing anything further or creating any…