Nichols & Shepard Co. v. Steinkraus

This is an action upon a promissory note for $200, bearing date March 10, 1904, with interest at 6 per cent, per annum from its date. The suit was instituted in the district court for Lancaster county, as the accumulation of interest, if computed, would render the action beyond the jurisdiction of a justice of the peace.

The defendant answered, admitting the execution of the note, but alleging as defenses: First. That the note was given as a part of $550 agreed to be paid as the difference between the price of two traction engines exchanged by the parties, and that at the time of the exchange…