McIlroy v. Fugitt

This suit originated in an action by the First National Bank of Fayetteville against Kate Fugitt, E. C. Fugitt, J. H. McIlroy, and J. H. McIlroy as trustee. The Fugitts had executed to the bank a note securing a debt of $17,000, one note for $15,000 and two notes for $1,000 each. These last two notes had been assigned by the bank without recourse to McIlroy with the understanding, that they were inferior to the lien of the mortgage on the $15,000 note. After this transaction the Fugitts ¡borrowed more money from McIlroy who was representing himself and others and to secure the same executed a…