Pierce v. Goldsberry

Erazer,. J.

This was a suit upon a promissory note against the appellant and another. The principal question before us is whether'the second and third paragraphs ©f the answer were sufficient. The court below held them had on demurrer. This ruling involved but a single question, to wit, whether an oral agreement by the payee with the principal maker of the note, to extend the time of payment during a definite period beyond the maturity of the paper is valid, the consideration for such further indulgence being a similar agreement by the principal to pay interest at the rate of ten per cent, per…