Mountain State Mica Co. v. J. E. Burleson Mining Co.

On 10 March, 1920, the plaintiff sold to the defendant a lease on the Clarissa Mica Mine at the agreed price of $20,000, of which one-fourth was paid in cash and the remainder evidenced by three promissory notes, each in the sum of $5,000, payable respectively four, eight, and twelve months after date. The defendant paid the first two of these notes and declined to pay the third. The plaintiff then brought suit, and the defendant resisted judgment on the ground that the execution of the note had been procured by the fraud of the plaintiff’s officers and agents. The execution of the note was…