Townsend v. Adams

— The negotiability or non'negotiability of a note is the only question presented for determination. In words and figures, that instrument is as follows:

“$2000.00 Jamaica, Iowa, Mch. 1, 1920.

“On the 1st day of March, 1925, for value received we promise to pay to the order of F. E. Smith, at the Peoples Trust & Savings Bank of Perry, Iowa, two thousand and no/100 dollars with six per cent interest from Mch. 1st, 1920, interest payable annually and interest and principal to draw eight per cent after becoming due, and we consent and agree that after this obligation shall become due the time of…