Gossett v. Stubblefield

ALEXANDER, Justice.

On August 31, 1931, C. Stubblefield executed and delivered his promissory note, payable on demand, to the order of L. K. Hannah, in the sum of $454.76, with interest from date at the rate of eight per cent per annum. On November 9, 1931, Hannah executed his note in the sum of $500, payable to Central Bank & Trust Company and pledged the Stubblefield note as security to pay same. Z. Gossett, as banking commissioner of Texas, having in charge for liquidation the Central Bank & Trust Company, filed this suit against L. K. Hannah to recover on the note executed by him to said…