Smith & Co. v. Mechanics National Bank

The Mechanics National Bank brought suit in the city court of Atlanta, against O. A. Smith & Co., on an un*212conditional promissory note for $3,000, made by O. A. Smith & Go., payable to the order of Moody & Brewster, and by the latter indorsed. To this action the defendants pleaded, admitting the execution of the note sued on, but denying their’ liability on substantially the following grounds: During the. time that Moody & Brewster were engaged in business and before the firm failed (which failure took place on May 21,1898), defendants executed to Moody & Brewster a large number of promissory…