Merchants & Farmers Bank v. Cardwell

Mr. Justice; McKinney

delivered the opinion of the Court.

This is a suit on a note, liability being resisted upon the ground that it was executed without consideration. The chancellor found for complainant and his decree was affirmed by the Court of Appeals. Both complainant and defendants have filed a petition for writ of certiorari.

The uncontroverted facts are substantially as follows: On June 24, 1928, the defendants executed a note to the Peoples Bant, of Lenoir City, for $4,333, payable six months after date. At that time, and continuously thereafter until the closing of the bank on…