Farmers Savings Bank v. Van Brunt Automobile Co.

— The note sued upon had its origin as follows: In March, 1918, the defendant in this case, Van Brunt Automobile Company, made its three promissory notes for $1,250 each to the Interstate Tractor Company, payable on August 28th of that year. The tractor company transferred these notes to the plaintiff, Farmers Savings Bank of Remsen. As the paper approached maturity, plaintiff, by letter, notified the defendant that it was holding the notes, and would expect payment when due. In the same letter, however, it was said:

“If it would be a material accommodation to you, we will agree to' renew one…