R. L. Snelson & Co. v. R. G. Hill & Co.

Appeal op IiiteeveNeb, East TenNEssee NatioNal BaNic.

Stacy, C. J.

In January, 1926, tbe contractor, R. G. Hill & Company, borrowed from tbe East Tennessee National Bank tbe sum of $5,000, executing its promissory note as evidence thereof, a portion of wbicb was used in paying laborers for work done in and about tbe construction of said highway. Tbe balance of this loan was used for other purposes connected with tbe construction of said projects.

No assignment was taken from any of tbe laborers or other persons receiving payment from these funds, and tbe note itself does not show for what…