Federal Reserve Bank of Richmond v. Atmore

The defendant admits in his answer the execution and endorsement by him of each of the notes sued on in this action.

He alleges that he executed and endorsed the note for $5,000, for the accommodation of the First National Bank of New Bern, N. C., and that he received no value for said note from said bank. C. S., 3009. It is alleged in the complaint that this note was negotiated by the First National Bank of New Bern, N. C., to the plaintiff.

The defendant admits in his answer, that he received value for the note for $2,000, from the payee, the First National Bank of New Bern, N. C. He alleges,…