Utah State National Bank v. Stringer

McNAUGHTON, Commissioner.

This action is upon a negotiable promissory note for $1,254 dated April 22, 1921, due six months later. It provides for interest at twelve per cent per annum from maturity and is payable to the Utah State National Bank at its banking-house in Salt Lake City, Utah. Defendant claims fraud in its procurement and no consideration as defenses, and also sets up the claim of usury. The nature of the case has required a thorough examination of all the evidence, but in the opinion only a general statement will be attempted.

From the testimony, it appears that on January 17,…