Cobb v. Johnson

Defendant gave to the plaintiff’s assignor April 9, 1896, his note for $300. Prior to that time he had become the owner of ten shares of the installment stock of said association of the par value of $100 each, upon the purchase price of which he had paid $460, and at said date he pledged said stock with said association as collateral for the payment of that note. He has paid upon the note the interest and premium to July 9, 1897, and in addition to that, $80.99 of the principal. The only defense. urged to the action upon the noté is that by certain correspondence had between him and the…