Farmers State Bank v. Montgomery

The opinion of the court was delivered by

Johnston, C. J.:

This was an action to recover on a promissory note for $10,000 executed by C. H. Montgomery and delivered to the Farmers State Bank of Russell. The defendant prevailed, and the bank appeals.

The note was executed January 6, 1926, payable ten days after date, bearing interest at the rate of eight per cent per annum and ten per cent after maturity, and plaintiff alleged that no part of the obligation had been paid. Defendant answered admitting the execution of the note, but alleged that it was made and accepted conditionally for the…