Tennant v. Joerns

Appellant, as plaintiff below, brought an' action of assumpsit against appellees, as defendants, who were guarantors of certain promissory notes made by the Knickerbocker Manufacturing Company, a corporation. To the declaration appellees filed a plea of usury, alleging that the Knickerbocker Manufacturing Company on March 24, 1922, executed eleven notes, of $1000 each, for a loan to the corporation of $10,000; that the eleven notes were due consecutively from one to eleven months after their date, and that appellees guaranteed their payment. The plea alleges that the eleventh note for $1000…