Morgan v. Shepherd

Shepherd applied to Morgan to borrow from, him the sum of $25, but Morgan refused to make said loan; but agreed to guarantee Shepherd’s note for that amount, payable to the Southern Loan and Real Estate Corporation, if Shepherd would execute to him a bill of sale to his household goods to protect him against loss arising by reason of his guaranty of Shepherd’s note, and if Shepherd would pay him for such guaranty the sum of $4.70 per month. Shepherd accepted this proposition, complied with its terms, and received the principal of said note. On the first of each month from September 1, 1927,…