Lee v. Southern Pipe and Supply Co.

COLEMAN, Justice.

Defendant appeals from judgment for plaintiff in action on promissory note brought by the payee against defendant as endorser.

Defendant was president of Lee Quality Homes Corporation, herein referred to as Lee. Lee was in the business of building and selling houses. For several years, Lee had purchased building materials from plaintiff. Lee got into financial difficulty and on September 22, 1962, was indebted to plaintiff in the amount of $47,364.25. On the date last mentioned, Lee executed the note sued on and defendant endorsed it. The note is for $47.364.25, and is payable…