Johnston & Larimer D. G. Co. v. Helf

For convenience plaintiff in error will be referred to as plaintiff, and defendants in error as defendants, as the parties appeared in the trial court.

This appeal presents the single proposition of law: Where the maker of a negotiable promissory note executes an assignment of his property for the benefit of his creditors in lieu of resorting to a discharge in bankruptcy, in consideration of the oral promise of the holder of the note to release the maker from all liability upon the note, can such oral-promise of the holder be shown in defense of an action on the note? Plaintiff contends that…