Maria Hunt had executed a promissory note to Robert Rice in the amount of $35,000 secured by a mortgage on her home. Invest Co. paid Rice $25,000 for the note and then sold it to NationsCredit Financial Services Corp. for $27,000.
Hunt did not pay off the face of the note, so NationsCredit sued her. She alleged she only received $23,300 from Rice, so she only repaid that amount.
She alleged there was a failure of consideration for any further amount.
Should NationsCredit recover? [Hunt v. NationsCredit Financial Services Corp., 902 So.2d 75 (Ala. Civ. App.)]