Young v. Smith

The opinion of the court was delivered hy

Scott, J.

This is an action upon a promissory note for $400 given by the defendants Smith as principals, and by Peterson as surety. It was made payable to the order of the cashier of the First National Bank of Aberdeen. Prior to the signing of said note, it appears that the plaintiff had executed a note to said bank to obtain a like sum of money for the purpose of loaning it to the defendants Smith, and that he did loan it to them, taking their note to himself therefor and also security upon a quantity of furniture. The note in suit was intended for the…