Mission State Bank & Trust Co. v. Hargadine

This is an appeal from the lower court’s judgment in a suit on a promissory note. For convenience we will refer to the Mission State Bank & Trust Company as appellant, and C. D. Hargadine as appellee.

The appellee and a business associate, C. E. Misemer, were the majority stockholders, officers and directors of several corporations including Future Homes, Inc. By early 1966, the appellant had extended credit to these several corporations through Future Homes, Inc. in an amount exceeding $150,000. Future Homes, Inc. requested an additional $10,000 in credit from appellant early in 1966.

Appellant…