State Bank v. Siff

The action was against the defendant as indorser of a promissory note. The defendant admitted the indorsement and non-payment, but alleged, by way of defense, facts showing that the consideration of the note was illegal. The note in question was one of a series given to plaintiff, as plaintiff contends, in consideration of the assignment of plaintiff’s claim against Siff Brothers, a firm consisting of Max and Albert Siff, bankrupts. The facts, briefly, are as follows: Max Siff was the father of Albert Siff. They were engaged in the wholesale manufacture of clothing under the firm name of Siff…