Murchison v. Saxon

GERMAN, Commissioner.

On March 9, 1931, defendant in error R. E. Saxon signed a note in the' sum of $3,000 payable to the First State Bank of Murchison, Tex. This note was also signed by J. T. Hardin. In May, 1932, the bank became insolvent and for the purposes of liquidation assigned all of its properties and assets to the Henderson County Investment Company, the assignee agreeing to pay all debts and the depositors of the bank, with certain exceptions. On May 17, 1932, the Henderson County Investment Company assigned all of the property and assets acquired by it from the bank to plaintiff in…