Armstrong v. Chadwick

The note in suit, which was payable on demand, was dated in April 1871,' and was overdue at the time it was indorsed by the payee Perry to the plaintiff. The defendant in set-off relied on a claim against Perry, and produced a note of other parties secured by a mortgage of personal property, dated in 1870, payable in three months after demand -to the order of Perry, which was indorsed by him to the defendant at the time when the note in suit was given, as the consideration for the same and for money then paid by the defendant to Perry. The mortgage was also assigned to the defendant at the…