Craig v. Butler

Campbell J.:

The defense below to an action on promissory notes given by plaintiffs in error, arose out of the following state of facts, substantially. The firm of Frost & Bradley *23had, during the years 1855 and 1856, raised money by borrowing from Butler, upon their notes, endorsed by the Craigs for accomodation. The amount borrowed does not appear. In August, 1857, after deducting all payments upon the principal and making no allowance on account of illegal interest paid, there remained a balance of principal of $2,540, for which new notes were given by Frost & Bradley, endorsed by the…