Sumter County State Bank v. Hays

The bank brought an action on a promissory note-.for $500.00 made and endorsed by R. S. Hays and R. M. Hays to the Florida Consolidated Canning Company who endorsed the note to plaintiff bank. The pleas were (1) that the defendants did not execute and deliver the note; (2) that the note was given for stock subscribed for- and to be issued by a corporation thereafter to be organized as the Consolidated Canning Company, the condition being that a canning plant of a stated capacity per day be built and equipped at Webster, Florida, within a time limit; that the company be organized within three…