Continental Gin Co. v. Stocker

WADE, District Judge.

Defendants were sued as sureties upon a promissory note executed to the plaintiff. Their defense, so far as presented for consideration upon this motion for a new trial, was that certain notes, including those in suit, upon which defendants are sureties, were given for a cotton gin; that a mortgage was also executed to the plaintiff as security for the purchase price of the gin; that, at the time of the purchase of the gin and the execution of the notes signed by the defendants, it was agreed that, in case of default and foreclosure of the mortgage, the money derived from…