Tek-Ni-Kal Employees Credit Union v. Atkins

Some time prior to December, 1963, defendant borrowed $1,500 from plaintiff and did not repay the loan. The debt was listed and. discharged in bankruptcy.

On December 3, 1963, the defendant went to plaintiff’s office and signed an “application for loan” form and a promissory note form.

The plaintiff brought this suit on the note claiming that the defendant had executed the ■ note to “resecure” his credit -with the plaintiff, that cash was given to him to apply on the prior indebtedness and $77.78 in cash was credited to a savings account in defendant’s name.

The defendant admitted signing the…