Weaver v. Waterman

This suit is brought on a promissory note for §1,314 40, dated 14th November, 1860, payable four years after date, with interest from maturity. .

The defendant made a special defence, and in substance alleged that the note sued upon was given without a legal consideration; that in October, 1860, the commercial firm of T. Waterman & Bro., of which he was a member, being embarrassed and unable to meet their liabilities in full, compounded with all the creditors thereof, whereby the said creditors agreed to receive in full payment seventy-five- per cent, on the dollar, payable by thirds, in one,…