Mount Vernon Trust Co. v. Bergoff

In an action on a note the defense was that there was no consideration; that the transaction was to take up a note of the defendant’s mother by an absolute assignment of a bond and mortgage and a collateral guarantee bond made by certain parties, one of whom was an officer of the bank, in payment of the principal part of the mother’s note; that at the same time the defendant was requested to give a note for the accommodation of the bank, a written agreement of the bank, signed by its president, was made to the effect that the note would not be enforced against her and the collection would be…