General Accident, Fire & Life Assur. Corp. v. Ross

This suit is on a demand note for $5,488.36, executed by the defendant to the order of the plaintiff. The signature to the note is admitted, but liability for its payment is denied because of a total failure of consideration brought about by plaintiff’s violation of an agreement made at the time of the execution of the note and by certain events occurring thereafter. The answer also sets up a reconventional demand for $50,000 as damages for a breach of an agreement under which the insurance agency of defendant, which was worth to him in commissions between $40,000 and $50,000 was taken from…