Sloan Lumber Co. v. Southern Ornamental Iron Works

LATTIMORE, Justice.

Appellee brought suit against appellant alleging assumption by the latter of the payment of an account due by Johnson, a contractor, to the former.

Johnson contracted to erect a building for Dugger, who executed before the building was started a demand mechanic’s lien note to the order of Johnson for $15,000. This was admitted to be more than the contract price of $12,500 and was pursuant to the understanding that on completion of the building this would be merged into a loan to be obtained on the security of said building. Johnson transferred the same forthwith to…