Powell v. Mobley

D. EL Powell, desiring to loan money indirectly to his son G. H. Powell, entered into a parol agreement with the Citizens Bank of Moultrie, and, in pursuance thereof, executed with his said son, each signing as principal, a promissory note dated December 31, 1925, for $4757.10, stating that “I, we, or either of us, promise to pay to the order of” the bank the above-stated amount, “with interest from maturity.” Contemporaneously with the delivery of the note to the bank D. II. Powell deposited with the bank $15,000, for which the bank issued its time certificate of deposit. The parol agreement…