Steele, Receiver v. Kirven

The opinion of the Court was delivered by

Mr. Justice Cothran.

Action upon a promissory note signed by the defendant, dated June 6, 1918, due 90 days after date, amount $960, payable to himself and indorsed to the Planters Fertilizer & Oil Company, of which company the plaintiff was appointed receiver by order of Court dated June 18, 1920. The defendant alleges in his answer that the note was given in payment of a subscription made by him to the capital stock of said corporation; that the subscription was procured by an authorized agent of the corporation upon the following representation: That…