Heard v. Shedden

Suit was brought by R. F. Sbedden against Heard on a promissory note payable “to tbe order of myself,” signed by tbe defendant, and indorsed by tbe defendant and by Byington and Hodgson. Tbe defendant admitted tbe execution of tbe note and tbat it was past due and unpaid. He denied, however, tbat tbe plaintiff was a bona fide bolder for value, and set up as a defense tbat tbe note was given in settlement of tbe first premium on a policy of life-insurance, tbat tbe note was given before tbe policy was delivered, tbat tbe note was indorsed to Sbedden before tbe delivery of tbe pobcy, tbat…