Jones v. Commercial Credit Co.

The decision of this case depends upon the answer to one question: Did the fact that the note was indorsed by the Jones Auto Company “with recourse” entitle the defendant to the set-off pleaded ? There was no issue of fact raised by the evidence in the case, and, as stated in the brief of counsel for the plaintiff in error, “under the pleadings and the evidence, the only theory upon which the set-off could be sustained would be upon the assumption that the credit of Jones Auto Company was pledged as security for the payment of the Cochran note. This assumption must rest upon the special…