Paine v. Copper Belle Mining Co. of Ariz.

This is an action brought by the appellants upon a promissory note for $265,416.72 made by the appellee. The defence is want of' consideration, and depends upon the question whether certain payments made by one Moneuse were made by way of loan or for the purchase of stock; the note having been issued as for a loan to the Company. The material facts are few. An earlier company, into the shoes of which the appellee has stepped, was in bankruptcy, and Moneuse, a stockholder, was suing certain others for the return to the Company of a large part of the stock. On June 4, 1903, a compromise was…