Waring, Rec'r v. Johnson

The opinion of the Court was delivered by

Mr. Justice StabtRr.

This action was brought by the Receiver of the People’s Federation Bank on a promissory note, dated August 13, 1923, and given to that bank by the defendants, and one other, as makers and indorsers. The prayer of the complaint was for judgment for $11,000, the principal sum of the note, with interest at 7 per cent, from the date of the suit and attorney’s fees.

The defendants answered, setting up various defenses. Eugene and A. E. Gadsden and A. C. Mayes pleaded, as one of their defenses, that the note, having been executed in…