Bastian Brothers Co. v. Brown

March 1, 1935, Bastían Brothers Company, a New York corporation, plaintiff and appellee herein, held notes of the Food City Brewing Company, a Michigan corporation, in the amount of $1,496.77. On that date the Food City Brewing Company executed three notes to the appellee for the total amount of the indebtedness, which notes were in renewal of the former notes then in default. Two of the notes were for the sum of $299.35 each. Note No. 1 fell due June 30,1935, and note No. 2 matured August 31, 1935. The third note is not involved in this action.

March 11, 1935, defendant, an investment banker…