Jones v. Nix
Jones v. Nix
Opinion of the Court
Inspection of the record shows that the same questions are involved here as were considered and decided in the case of Charles R. Jones v. D. A. Abernathy, 174 S. W. 6S2, in which an opinion was handed down November 21, 1914. ■ Here the suit was by Jones against Nix upon one of the collateral notes mentioned in the Abernathy Case. The court peremptorily instructed the jury to return a verdict for the defendant. Judgment was entered accordingly.
We have reviewed the authorities cited in the briefs of the parties. Having heretofore held in the Abernathy Case that, by reason of the provisions of the stock and bond law (Vernon’s Sayles’ Civil Statutes, arts. 6717 to 6732), the original note for $28,000 was absolutely void, and that appellant, as the holder of the collateral notes, was not entitled to recover against the several makers thereof, because the invalidity of the principal debt bars all right of the holder thereof to collect the collaterals in his hands, the judgment is affirmed.
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Addendum
On Motion for Rehearing.
It appears from the record that the $28,-000 note held by appellant was secured by the collateral note in issue here, and also by a deed of trust upon appellee’s land. For the reasons stated in our original opinion, and more fully set out in our opinion in the case of Jones v. Abernathy, 174 S. W. 682, we overrule appellant’s first four assignments of error.
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Eor the reasons above stated, the judgment is affirmed in part and reversed and remanded in part.
HENDRICKS, J., not sitting.
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