Guaranty Mortgage Co. v. Wilcox

The plaintiff commenced this action in the district court of Weber county against the defendant to recover upon a promissory note. In its complaint plaintiff, in substance, alleged that in June, 1921, the “defendant subscribed for, and agreed to purchase, 50 shares of 7 per cent, preferred stock, each of the par value of $100; ’ ’ that said stock was delivered to him, in consideration for which he executed and delivered to the plaintiff a promissory note for $5,000, payable $-on a date named, and $1,000 on the 15th day of December, 1921, and an equal amount in each year thereafter until the…