Lampkin v. Stout

— On May 22, 1911, R. B. White and wife executed to S. W. Irwin and L. O. Stout a note and mortgage for a $800 loan, payable on May 22, 1912. On October 26, 1911, A. B. Lampkin, since deceased, bought from White the land described in the mortgage, assuming the mortgage debt, upon the principal of'which White had made no payment, and gave his note for a like principal sum, payable 90 days after February 22, 1913, on which, with Lampkin, White became a joint obligor. All the parties regarded the debt as bearing interest at 8 per cent., payable quarterly from the date of the first note. Lamp-kin…