Sullivan v. United Dealers Corporation

REED, Justice.

The sole issue presented is whether ap-pellee, United Dealers Corporation, a finance company, was a holder in due course of a promissory note executed and delivered by appellants, James Earl Sullivan and Norma Jean Sullivan, his wife, in payment for building materials and labor furnished by Memory Swift Homes, Inc., the payee of the note.

Memory Swift Homes, Inc., contracted with the Sullivans to construct a prefabricated dwelling house for them. The contract was dated March 26, 1963, and on April 9, 1963, the Sullivans executed and delivered to Memory Swift, the contractor,…