Taylor v. Hudgins

Citations

• 42 Tex. 244

Syllabus

<p>1. Principal and agent—non est pactum. An agent acting under power of attorney which authorized him “to mortgage, hypothecate, or create a lien ” on the lands of his principal, borrowed a sum of money for which he executed a note, and secured it by a deed of trust, made at the same time on the land of his principal. Suit was brought against the principal on the note and to foreclose the mortgage. Defendant pleaded non est factum, as to the note only, which, notwithstanding the plea, was admitted in evidence with the deed of trust, with no further evidence of its execution than that afforded by the deed of trust.</p> <p>Meld, 1st, that there was no error, the deed of trust and note constituting one transaction ; the note being evidence of the debt, and the trust deed both evidence and security. 2d, The trust deed alone was sufficient without a note to authorize a j udgment for the debt and a decree of foreclosure.</p> <p>2. Power op attorney. Such a power of attorney will be construed as authorizing the agent to negotiate a loan for his own or his principal’s benefit.</p>