Peterson v. Rochelle

(after stating the facts as above). In the light of the evidence the error of the court was to the extent only of directing a verdict in favor of the plaintiff against the maker of the collateral note for the full amount of such note with interest thereon. Although the $1,250 note was a negotiable paper, yet the evidence established without dispute that the transfer of the sanfe from Leonard H. Weldon to the Miller County Bank & Trust Company was.intended simply as collateral security for the payment of the $51 note, which was a personal obligation of the said Weldon, and not for the purpose…