Palmer v. Citizens Bank of Murray

Opinion of the Court by

Judge Hurt —

Affirming,

On the 15th day of August, 1913, the appellant, J. I. Palmer, bought from the Citizens Bank of Murray, twenty shares of its capital stock, of the par value of $50.00 each, and gave for it the sum of $55.00, per share, or $1.10 for each dollar of the par value of the stock. He paid for the stock by transferring to the bank: certain *55promissory notes, which he held against individuals, one of which he held against the appellants, B. H. Cobh and Willie Cobb, payment of which note was secured by a mortgage upon real' estate in the county of Graves. On…