Moore v. Hursey Transp. Co.

Defendant company executed a promissory note for $500 in favor of plaintiff company, September 30, 1930, payable in October, 1930.

The execution of the note is admitted, the sole defense being want of consideration.

The proof is that defendant was indebted to plaintiff in a sum exceeding $500 for insurance premiums. It is shown, and not disputed, that this note was given in part payment of the account for these premiums, and that the account was credited up to the amount of the note. This pre-existing obligation of the defendant constituted a legal consideration for the note which embodied a…