Security State Bank v. Sykora

This is an action upon a promissory note executed and delivered 'by defendant to plaintiff, dated June i, 1923, due January 1, x924, for $1,500, with interest at 9' per cent. The answer admits the execution and delivery of the note, and pleads two counterclaims. For a proper understanding of the counterclaims, the following facts are stated: Defendant is a dealer in automobiles at Dante, and in 1920 sold an O'ldsmobile for $2,050 to one Kloucek. Kloucek paid on the amtomobile a sufficient amount to reduce the sum due thereon to $1,687.50 and gave a note to defendant for the balance. At this…