Farmers' & Traders' Bank v. Smith

Opinion of the Court by

Commissioner Hobson

Reversing.

The Vermillion Contracting Company and C. C. Smith, on February 20, 1923, executed their note to the Farmers’ & Traders’ Bank of Campton, Ky., for $5,000, due in 90 days. The bank brought this suit against Smith to recover on the note. He, by his answer, pleaded that about the time the note fell due the Vermillion Contracting Company paid the note by arrangement with the bank, through its cashier, in this way: The Vermillion Contracting Company had a contract for the construction of a state highway in Wolfe county and had performed work…