United States v. Summerlin

Terrell, C. J. —

This cas.e arises, from these facts: In March, 1935, as provided by the National Housing Act, J. F. Andrew executed his promissory note for $839.86 in favor of W. B. Craig, payable in thirty-six equal monthly installments. The note was transferred to Johns-Manville Credit Corporation. The maker defaulted in his payments and Johns-Manville Credit Corporation made demand on the Federal Housing Administrator for the sum of $529.19, said amount being the balance due on the note. It was paid by draft on the Treasurer of the United States and the latter became the owner of the note.…