Rivers-Yager Company's Trustee v. Lincoln Bank & Trust Co.

Opinion of the Court by

Commissioner Hobson—

Affirming.

The Rivers-Yager Company was a corporation whose general business was buying undeveloped real estate in Louisville, building houses on it, and then selling the property. It did business with the Lincoln Bank & Trust Company, who lent it money from time to time. On March 14, 1924, it borrowed of the bank $6,000, and executed a note therefor. On June 14, 1924, it paid on the note $1,376.68, leaving a balance due on August 16, 1924, of $4,717.89, for which a new note was then executed. After this the corporation sold some real estate and…