Sasser v. First Joint Stock Land Bank of Montgomery

McCORD, Circuit Judge.

The appellant, Thomas J. Sasser, Jr., borrowed from the appellee, First Joint Stock Land Bank of Montgomery, $6500 in 1925. The indebtedness was secured by a security deed, and after appellant became exceedingly delinquent in his payments, the appellee foreclosed and bid the security in at the foreclosure sale. Appellee then rented the farm for the year 1935 to Mrs. Novella P. Sasser, wife of the appellant, for $600. This rental agreement between Mrs. Sasser and appellee contained a clause which granted Mrs. Sasser the right to purchase the property _by September 15,…