Estill v. Holmes

This is a suit by the payee, against the maker of a promissory note for $1500. The answer admits the defendant’s signature, but avers that the consideration for which the note was made has failed ; that it was given for a tract of land sold to the defendant, by the plaintiff, which the defendant had himself originally sold to James A. Clarke, of Chicot county, Arkansas ; that in this sale it was expressly stipulated, that the defendant should have the privilege of purchasing back his land at the rate of twenty dollars per acre, the price paid to him by Clarke ; that the latter after-wards…