Securities Investment Co. v. Guillotte

SAVOY, Judge.

This is a suit on promissory note instituted by plaintiff against defendants. For a cause of action plaintiff alleged that it is the holder in due course for valuable consideration of a promissory note executed by defendants in favor of Figuretone of Lafayette in the principal sum of $559.20 dated November 29, 1966.

To this suit defendants filed an answer stating that plaintiff was not a holder in due course, and that it actually directed the transaction between Figuretone of Lafayette and defendants for the purchase of one certain Figuretone machine which was defective.

After a…