White v. Gilliam

In this appeal, Frederick K. and Iona Z. White (the Whites) seek reversal of the trial court’s judgment that Robert L. Gilliam, III, was a holder in due course of three promissory notes executed by the Whites in favor of Westhampton Mortgage Company (Westhampton).

Between November 3, 1988 and February 6, 1989, Gilliam loaned Westhampton a total of $345,200. As security-for these loans, Westhampton, by its president Sommerville Wickham, assigned Gilliam three deed of trust notes that were apparently executed by the Whites. When the Whites refused to pay the notes, Gilliam filed a motion for…