Phillips v. Webster

Hr. Justice Scholfield

delivered the opinion of the Court:

Judgment was recovered by appellees, against appellants, in the court below, in an action of assumpsit, on account of the liability of the latter to the former as assignors of a certain promissory note executed by the Indianapolis, Bloomington and Western Railway Company.

The ground of liability, as alleged in the declaration, is, that at the time the note matured the railroad company was insolvent, and, by reason thereof, a suit against it would have been unavailing.

Evidence was given on the part of appellees of the return of executions…