Beam v. Farmers & Merchants Bank

Opinion by

THREADGILL, 0.

The plaintiff, defendant in error, brought the action against the defendant, plaintiff in error, to recover on a promissory note. The note was made and executed on February 28, 1920, for the sum of $400, payable May 28, 1920, with 10 per cent, interest per annum from maturity, by S. H. Richard and Sarah Richard, as principals, and J. P. Beam, the defendant, as surety." The note was not paid at maturity, and on May 23, 1921, Richard and his wife, being indebted to the bank on another note in the sum of $185, executed a new note for $585, merging the the indebtedness of…