Citizens Bank of Morehead v. Nickell

Opinion of the Court by

Judge Pulton

Reversing.

On July 18, 1928, appellees, O. C. Nickell and Lindsay Caudill, as sureties for V. Hunt, executed and delivered to the Moretead State Bank a promissory note payable four months after date. Later in tbe same month, after the execution of the note, that bank was taken over by the State Banking Commissioner. The appellant, Citizens Bank of Morehead, was thereafter organized and on September 25, 1928 the Banking Com missioner sold and transferred the assets of the More-head State Bank to appellant. By this contract of sale, appellant assumed all…