Freezamatic Corp. v. Brigadier Industries Corp.

Jordan, Presiding Judge.

This is an action on two promissory notes against the maker and the endorsers. The defendant’s answer admitted execution of the notes but denied the indebtedness because the notes were "part of a series of actions dealing with stock of the two companies, stock options and other matters.”

Such a pleading is not a defense to this action. Code Ann. § 109A-3 — 307 (2) clearly states, "When signatures are admitted or established, production of the instrument entitles a holder to recover on it unless the defendant establishes a *768defense.” Code Ann. §81A-108 (c) states that "In…