Newell Contracting Co. v. McConnell

On September 25, 1920, appellant company executed its negotiable promissory note of that -date, dua December 10th after date, for $2,500, to tbe order of H. A. Morrison; and this is a suit to collect it. Tbe note was dated at' Earle, Arkansas, and was payable at tbe Bank of Commerce in that city. Tbe plaintiff is tbe receiver of the People’s Bank & Trust Company, a defunct banking- corporation of Memphis, Tennessee. Tbe execution of tbe note by appellant is admitted, but a failure of consideration is alleged, and the answer further recites that tbe bank was not an innocent bolder of tbe note.

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