Mid-State Homes, Inc. v. Donnelly

LAVENDER, Vice Chief Justice:

The appellees, Charles P. and Pricilla M. Donnelly, husband and wife, (Donnellys) contracted with Jim Walter Homes, Inc. (builder) for the construction of a shell house on their real property. Principal part of the contract price was paid by the Don-nellys executing a non-negotiable note, secured by a real estate mortgage, to the builder. The builder assigned the note and mortgage to Mid-State Homes, Inc. (Mid-State), appellant. Note and mortgage were given under the same date as the building contract, and provided for monthly payments over a fifteen year period.

Af…