Kite v. Eckley

— Plaintiff and one Walters executed a promissory note for $5,000 payable to W. L. Eckley. The trial court found on supporting evidence that this note was given without consideration and upon representations, among others, that the note would not have to be paid by the makers, and that Eckley would keep on deposit with it other valuable paper, the proceeds of which would be applied in payment of plaintiff’s note. The note was given for the purpose of enlarging Eckley’s credit, and was immediately negotiated by him to J. W. Laubenheim. Thereafter Eckley deposited with Laubenheim as security…