Resource Holding Corp. v. Goldstein

The first action was commenced on September 16, 1925. It was based on a four months’ note for $1,900, dated May 8, 1925, due on September 8, 1925, made by the defendants Goldstein and Lifton, and indorsed by the defendant Chaskin. The plaintiff sued as assignee, alleging that no part thereof had been paid except the sum of $138.

The answer denied non-payment and, evidently by way of defense, alleged that prior to the dates in question the defendants, who were officers of a concern in financial difficulties, in order to effect a composition, had given their note to the plaintiff’s assignor, a…