Bank of Lenox v. Webb Naval Stores Co.

On November 10, 1926, J. M. Crumpton conveyed to tbe Bank of Lenox two described tracts of land, to secure a debt. This deed was made subject to a prior security deed executed by a former owner of these lands to the Penn Mutual Life Insuranee Company. On November 25, 1929, the insurance company sold these lands at public outcry under the power of sale contained in its security deed; and at said sale the bank, to protect its interest therein, purchased these lands and took a deed thereto. On January 12, 1929, Crumpton executed to Webb Naval Stores Company, a firm composed of E. L. and G. G.…