Thomas v. Siddens

Opinion of the Court by

Morris, Commissioner

Affirming’.

On June 8, 1925, appellee executed a six months’ promissory note for $3,075 to Thomas & Hinton Company in payment for some of its corporate stock. The note was pledged to the American National Bank as collateral. In January, 1926, the corporation was adjudged bankrupt, its assets sold by the trustee, and appellant became the purchaser of all the assets, including the note in question, which had not been paid at maturity.

Appellant, prior to 1928, filed a suit against appellee in the Barren circuit court, seeking recovery on this note. A…