Macedonia State Bank v. Graham

The appellant purchased stock in a corporation known as the Farmers Mortgáge Company. He gave a series .of notes therefor. One of the notes for $1,350 was sold to appellee. When this original note came due, the appellant *13renewed the same by giving the note in suit, direct to appellee as payee. Appellant pleaded fraud in the inception of the original note. By way of reply, appellee alleged that, prior to the commencement of this action, appellant had commenced a suit in equity against the Farmers Mortgage Company, wherein appellant sought the cancellation of his subscription for stock in said…