Kern County Finance Co. v. Iriart

This is an action on a promissory note for $1,000 with interest at 10 per cent, dated November 14, 1934, payable on demand and signed by both defendants. The action was filed on July 6, 1936, and in their answer the defendants admitted execution of the note by failing to deny the same, denied that there was any consideration, and, as an affirmative defense, alleged that for some time before and after November 14, 1934, the defendant James Iriart was employed by the plaintiff to purchase automobiles for it, that the $1,000 represented by the note was advanced to him as a revolving fund to be…