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MURDOCK ACCEPTANCE CORP. v. WAGNON

No. 77-1403.

587 F.2d 764 (1979)

MURDOCK ACCEPTANCE CORPORATION, Plaintiff-Appellee-Cross Appellant, v. William Arthur WAGNON and Jacqueline B. Wagnon, Defendants-Appellants-Cross Appellees.

United States Court of Appeals, Fifth Circuit.

January 12, 1979.

Attorney(s) appearing for the Case

Charles D. Read, Jr., Decatur, Ga., for defendants-appellants-cross appellees.

Robert L. McHaney, Jr., Starkville, Miss., for plaintiff-appellee-cross appellant.

Before BROWN, Chief Judge, TUTTLE and THORNBERRY, Circuit Judges.

TUTTLE, Circuit Judge:

This is a diversity action brought by Murdock Acceptance Corporation ("Murdock"), a Tennessee corporation, against Mr. and Mrs. Willie Wagnon, citizens of Georgia. Murdock sued upon five promissory notes with a cumulative total of $37,713.99, which were made in connection with the purchase of five resort lots by the Wagnons at Sugar Tree and English Mountain resorts in Tennessee. Each lot was purchased by making a 10 percent cash down payment...

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