Quast v. Ruggles

The question presented by this appeal is the negotiability of the following note:

“On the first of November, 1920, for value received, we promise to pay to M. L. Bevis the principal sum of $1,200 (Twelve Hundred Dollars), with interest thereon at the rate of seven per cent per year, from the date hereof until maturity, payable annually according to the tenor of nine interest notes, each for $84 and one (1) for $80.97, bearing even date herewith; both principal and interest notes payable at the office of Bevis Bros., Spokane, Wash, (with exchange on New York). And if default be made in payment…