Speier v. Michelson

Opinion by

Mr. Justice Kephart,

This is an action on a promissory note. The affidavit of defense admitted its execution and delivery, but averred a parol understanding subjecting payment of the instrument to certain conditions. The affidavit stated that the parties were joint owners of a piece of real estate in Philadelphia, subject to a mortgage, and that appellant, being obligated to pay one-half, was unable to raise the necessary funds and borrowed the amount from his coowner, giving therefor the note in suit. It was also averred that the note was to be paid out of the proceeds to be…