Union Bank v. Chaffin

This is a suit for discovery, and to set aside fraudulent conveyances, and to subject S. L. Chaffin’s property to the payment of complainant’s judgment.

In October, 1930, the Peoples Bank of Pulaski, Tennessee, executed a bond to the Union Bank of Pulaski, Tennessee, in the sum of $150,000, indemnifying it against any loss that it might sustain by reason of its purchase of the assets of the Peoples Bank and the assumption of its debts. S. L. Chaffin was one of the sureties on the bond. He limited his liability to $20,000, and made affidavit, on that date, that his estate was of the value of…