McStea & Value v. Warren & Crawford

The plaintiffs are indorsees of a draft for $939 68 drawn on the twentieth of March, 1362, by J. & E. Roberts of Mississippi, on their factors, Warren, Gil ni ore & Co., who accepted the draft. It was an accommodation acceptance. In May, 1866, the drawer paid $400 on the draft. On or about the day this partial payment was made, the plaintiffs agreed to take six hundred dollars for the balance of the note, provided that sum were paid on or before the first of January, 1870. The defendants, successors of Warren, Gilmore & Co., and agents of J. & E. Roberts, offered to pay the plaintiffs the…