Farthing v. . Dark

MERRIMON, C. J., and SHEPHERD, J., dissenting. The plaintiff sued on a promissory note, of which the following is a copy:

"$125.00. DURHAM, N.C. 13 Feb'y, 1891.

"Six months after date I promise to pay to the order of W. B. Pallett Co. one hundred and twenty-five dollars, negotiable and payable at Durham Fence Factory, or office of Wortham, Warren Co. Planing Mills. Value received.

"Indorsed: W. B. Pallett Co. J.H. DRAKE."

The defendant admitted the execution, pleaded fraud in the factum, failure of consideration, and equities arising out of a contemporaneous contract, as set out in the answer.

The…