Branch v. Johnson

1. The plaintiff’s action was based upon a promissory note. The defendant pleaded that the note was given for the purchase-price of certain standing timber, and that, after only a part of the timber had been cut, the plaintiff sold the remaining timber to a third person for more than enough to pay the balance then due upon the note. On the trial it appeared that the plaintiff had sold the timber to the defendant, subject to the limitation that it was to be cut within two years; the cutting• began but was discontinued; the plaintiff in parol agreed that he would not insist upon the two years…