Mayberry v. Penn

October 24, 1921, Clyde Penn, appellee, sold certain farm property in 'Benton county, Arkansas, to William Salter, Lucia Salter, L. N. Barnes and Elsie Y. Barnes, receiving as part consideration three notes of $1,000 each, due one, two and three years, respectively, from their date. Each of these notes was signed by these four parties as makers.

January 6, thereafter, appellee Penn sold the three notes to appellant,.A. B. Mayberry, indorsing each note on the back ‘ ‘ Clyde Penn. ’ ’ Each note was identical except as to the due-date, and usual in form, except that .each contained the following…