Hayes v. Knox

Knox sued Nathan JB. Hayes, Samuel W. Webber, and David B. Corey, who were formerly private bankers in' Hubbardston, upon a certificate of deposit for $1,085.56, dated February 4, 1876, and drawing interest at 10 per cent.

The defense set up was that in the fall of 1876 Hayes and his. associates sold. out their banking business and assets to Edward B. Percival and H. E. Jackson, who agreed to take up this certificate, and that Knox agreed to look to them and extended the debt on new terms, and that the new firm became insolvent.

All the questions turned on this defense. Knox recovered judgment,…