Pan-American Bank v. Crawford

Defendant executed a note to The Agricultural Credit Corporation which that corporation put up as collateral on a loan procured by it from plaintiff. That loan not being paid, plaintiff brought this action on the defendant’s note. The defendant answered setting up that there was no consideration for the note; that it was given solely for the accommodation of The Agricultural Credit Corporation; that at the time of the execution of the note The Agricultural Credit Corporation had agreed with defendant that he would never be called upon to pay it but that said corporation would pay it and would…