Philpott v. Soldan

On July 1, 1926, defendant executed an order to Philpott for 500 city of Hamburg bonds of 1919 bearing interest at four and a quarter per cent. for a consideration of $500. On July 19, 1928, defendant executed another order to Philpott for 50,000 Russian bonds of 1917 at five per cent. interest for the consideration of $350. The bonds were subsequently delivered and on July 18, 1929, defendant gave plaintiff a promissory note in the sum of $687.50 payable January 18, 1930, in payment of the Hamburg and other bonds; and on July 19, 1929, gave another note in the sum of $350 payable January 18,…