Browning v. Crouse

In December, 1875, Crouse was indebted to the plaintiffs in the sum of $1,131.50, and was also indebted to others beyond his ability to make full payment. Under these circumstances he made to his creditors a proposition for a compromise, the substance of which - was that he should pay fifty per centum of his debts and be discharged from the payment of the remainder. ■ A certain sum was to be paid immediately, and for the remainder secured notes were to be given at three, *341six and nine months, with interest. The method of security was agreed upon, but we need not give the particulars here.…