Zastrow v. Knight

Plaintiff instituted this action against defendants in July, 1928, to recover a principal balance of $2,500’, together with some interest, upon a promissory note executed and delivered by defendants to plaintiff July 29, 1919, bearing interest at 6 per cent per annum, payable July 29, 1922.

The answer of the defendants admits the execution of the note, plaintiff’s ownership thereof, and the balance due thereon, and, by way of defense, alleges .substantially as follows: -

First. That as a part of the same transaction with the execution of the note and as security for the payment of the note…