Farmers State Bank v. Klein

*166Opinion by

Mr. Justice Moore.

Plaintiff in error will be designated as the bank and defendant in error will be referred to by name. ■ ;

Klein commenced the action for the cancellation of a promissory note dated January 25, 1962, payable to the bank. This note was executed by Klein and delivered to the bank in order that a prior note executed by him to one Perlenfein, which was in default, could be placed in “bankable condition.” In his complaint Klein alleged that there was a failure of consideration for the note executed and delivered by him to Perlenfein on August 26, 1959; that after it was…