Ragan v. Newton

Suit in a justice’s court was brought on a promissory note for $78 principal, “ payable as follows: Money or War Savings Stamps — $39, Nov. 15, 1918, without interest — $39, Nov. 15, 1919, with interest at the rate of 0% per annum from date.” On appeal in the superior court the defendant testified: that on the day the note was due he tendered to the plaintiff, in full payment, 20 war-savings stamps, the par or maturity value of which was $5 each, a total of $100, and the surrender value of which on the day of tender “was sufficient to pay in full the said note and about $6 or $7 more;” that…