Lawhead v. Stewart

Hatcher, Judge:

In 1926, a negotiable note of $5,000.00, made by L. W. Stewart in favor of F. N. Stewart and Dottie Wickel, was discounted at The First National Bank of Pineville and the proceeds credited to the bank account of Mrs. Wickel. The note was renewed several times but no part of the principal was ever paid. The bank was taken in charge by a receiver in 1930, who conducted its affairs until 1938, when its assets then undisposed of, including this note, were sold at public auction under judicial order, and purchased by C. E. Lawhead. He brought action on the note. A verdict against…