Cameron State Bank v. Sloan

WELBORN, Special Judge.

Action to void release of deed of trust and cancellation of note given which it secured on grounds that note had been marked “paid” by mistake. Defendants counterclaimed for $10,000 actual and $250,000 punitive damages, alleging that “mistake” relied upon was result of gross and wanton negligence on part of holder of note. Upon trial, court sustained plaintiff’s motion for directed verdict on counterclaim and found in favor of plaintiff on its petition. Defendants have appealed.

On February 4, 1972, Melvin C. Sloan executed a note for $10,000 evidencing an indebtedness…