Adams Nat. Bank v. Stone

This suit was instituted by tbe bank against Stone to recover upon a promissory note executed by tbe latter, and payable to tbe Planters’ Bonded Warehouse Company, wbicb bad assigned it to tbe bank. The note, given in payment of stock to be issued to Stone, by tbe company, was executed on February S, 1921, and by its terms was made payable on October 1, 1921. Stone sought to defeat tbe note upon the grounds: (1) That at the time it was executed it was understood by tbe parties thereto, with tbe bank’s knowledge, that it would not “become due and payable” until tbe warehouse company built á…