Corsica State Bank v. Heezen

Plaintiff bank sued in the usual form' to collect the amount due on a promissory note executed' by defendant in the principal sum of $5,000, dated October 22, 1920. By way of defense plaintiff admitted the execution of the note in question, but set up that the note sued upon was a renewal or second renewal of an original promissory note given by defendant to plaintiff bank on April 17, 1919, the sole consideration for which was 30 shares of capital stock of Commercial & Savings Bank of Sioux Ralls, S. D., and that defendant was induced to purchase said capital stock and execute and deliver to…