Jones v. State Nat. Bank of Iowa Park

MARTIN, Justice.

On January 3, 1930, P. G. Jones executed and delivered to the First National Bank of Iowa Park, Tex., a note for the principal sum of $830.41, payable nine months after date. By its terms, said note was negotiable. At that time, and for some time thereafter, there were two banks operating in Iowa Park, the First National Bank and the First State Bank.

Subsequently, both banks voluntarily went into a process of liquidation, organizing a new institution known as the State National Bank, which is the defendant in error here. The new bank took over all the assets and assumed all…