Hart v. Eppstein

Citations

• 71 Tex. 752
• 10 S.W. 85
• 1888 Tex. LEXIS 1220

Syllabus

<p>1. Mortgage—Conditional Sale.—Hart applied to Eppstein & Co. for a loan. Max Eppstein, for E. & Co., conferring with Hart, agreed upon the terms and security. The security to be a mortgage upon a tract of land much in excess in value of the loan. The parties, H. and the agent, went to a lawyer to prepare the necessary papers. On consul tation and advice Hart executed to the agent an absolute deed for the land, and to E.- & Co. his promissory note payable to bearer, bearing interest at twelve per cent per annum, and due seven months thereafter, and stipulating for an attorney fee of ten per cent if collected by legal proceedings. Held:</p> <p>(1) That the note and deed together constituted one transaction, and with the attendant circumstances evidenced a loan of money.</p> <p>(2) That a parol agreement otherwise would not alter the terms of the contract.</p> <p>(3) Nothing short of a valid subsequent contract could alter its character, etc.</p> <p>(4) In a suit to redeem, both the agent in whom the title to the land was passed, and the holders of the note, were necessary parties.</p>