Dallas Joint Stock Land Bank v. Henry

STANFORD, Justice.

In January 1931, Ben Fenter executed and delivered to Henry & Younce, grocery merchants, a chattel mortgage on all of the cotton crop to be grown by him during said year on a certain farm owned by him in McLennan county. At that time the Dallas Joint Stock Land Bank held a deed of trust on the farm. Fenter was in arrears in his payments to the land bank and was about to lose his farm. In April of the same year by mutual agreement of all of the parties, Fenter, in order to secure an extension of the time for payment of the amount due to the land bank, executed a chattel…