Peoples State Bank v. Penello

By stipulation these two actions were consolidated and tried together before the same jury. The complaints were filed the same day, each seeking to recover from the defendant the aggregate amount of one thousand dollars upon three promissory notes, the circumstances in both cases being identical. The notes were originally given to the Hunt-Jewett-Bontz Co., a corporation, of Turlock, for one thousand dollars’ worth of stock in said corporation to be issued to each defendant. After execution said notes were assigned before maturity, along with other notes of the Hunt-Jewett-Bontz Co., to…