Runciman v. Brown

The McCords Co-operative Association was incorporated for the purpose of dealing in farm produce. After a time the members of the association fell into discord, and plaintiff was appointed receiver to wind up its affairs. Plaintiff found the association was insolvent. Among its assets were a large number of promissory notes for $100 each given by the members, payable to the order of the association. Thirty-four of the makers refused to pay their notes, and this suit was begun to enforce the collection thereof. The 34 defendants were joined in one suit. The notes were in the following form:

“P.…