Raymond v. Rhodes

The defendant was indebted in the sum of $1628.53 upon a promissory note payable to one Smiley and secured by a mortgage running to him. This represented a debt due to the plaintiff, and Smiley held the note and mortgage for his benefit. An arrangement was made by which the note to Smiley was given up, the mortgage discharged, (Smiley being released from all liability to the plaintiff,) and a new agreement made between the plaintiff and the defendant, upon which this suit is brought.

It is objected, that the true consideration of the agreement is not set forth in the declaration. But this…