Green v. Nabors

The suit is upon a note executed by defendant in the sum of $225, bearing date Ad-gust 30, 1928, and due November 28th following, payable to Woodlawn Savings Bank, the affairs of which are being administered by the state superintendent of banks.

The defense, was payment by the execution of a renewal note. “It is the settled doctrine in this state that, when a debtor gives his own security of no higher nature "for a pre-existing debt, it is considered, in the absence of an agreement, express or implied, as collateral or additional security, dr a conditional payment, which does not operate an…