Krause v. Snyder

GARDNER, Circuit Judge.

This is an appeal from a judgment against appellants, defendants below, as indorsers on á promissory note. The answer pleaded in effect two defenses: (1) That the note sued upon was a renewal óf a prior note, and that it was understood and agreed that it should be signed by all the indorsers on the prior note, but that contrary to this agreement certain of the indorsers did not sign, and the note was nevertheless delivered in violation of such agreement; and (2) that certain payments were made by the maker of the note that were not credited upon it, but were credited…