Markovitz v. Swartz

This is an action on a promissory note brought by an indorsee against the makers. All defences except failure of consideration were waived at the trial in the Municipal Court of the City of Boston. The case is before us upon an appeal from an order of the Appellate Division dismissing a report, and thereby sustaining a finding for the defendants.

The note was secured by a mortgage of land in Canton, and was given in part payment for the mortgaged land. By" the negotiable instruments act, G. L. c. 107, § 51, absence or failure of consideration is matter of defence against any person not a…