Michigan Supreme Court January 3, 1928, Docket No. 9. (Lilley State Bank v. Burkhardt)

Clark, J.

On January 9, 1922, defendant purchased shares of the capital stock of Southern Oil & Land Company. By agreement between the company and the plaintiff bank the note for the purchase price was made to the bank. On March 4, 1922, defendant purchased more of the shares and again his note was made to plaintiff.