Western Coal & Mining Co. v. Jones

Three promissory notes totaling $238,000 were executed by defendant and three comakers, two payable to Festus J. Wade & Co. and one to Festus J. Wade, Jr. Two of the notes matured on January 2, 1934, and the third on January 3, 1934. The notes were transferred to plaintiff. Plaintiff’s action on the notes was commenced on October 20, 1941.

Defendant defended on the ground, among others, that the action was barred by the statute of limitation (Code Civ. Proc., § 337). His defense that it was so barred is based upon the contention that the acknowledgment urged by plaintiff as taking the case out…