Forest Inc. of Knoxville v. Guaranty Mortgage Co.

OPINION

DAVIS, Special Judge.

The parties will be referred to as they appeared in the trial Court, plaintiff and defendant, as indicated above.

By its complaint plaintiff avers defendant is indebted to it in the sum of $26,-550.00, the sum of certain notes constituting the balance of the consideration for building lots it sold to Dean Cate, the notes being secured by Cate’s deed of trust on said lots.

Plaintiff alleges there was an accepted ! practice custom and policy in the area that a land developer, such as plaintiff, sells lots to a contractor, such as Cate, who borrows money from a…