Guardian Trust Co. v. Studdert

On August 17, 1907, appellee, James H. Studdert, executed and delivered to H. Hamilton his promissory note as follows:

“$26,250/00

“Houston, Texas, Aug. 17th, 1907.

“Five years after date, I promise to pay to H. Hamilton or order the sum of twenty-six thousand two hundred and fifty no/100 dollars, at Houston, Texas, for value received, with interest at the rate of six per cent per annum from date.

“This note is given in payment for one hundred and fifty shares of the capital stock of the Houston lee & Brewing Company this day bought from H. Hamilton, and to secure the payment of the same,…