Knapp v. Hipes

The opinion of the court was delivered by

Dawson, C. J.:

This was an action on two promissory notes which had been assigned to the plaintiff by the payee after their maturity.

The defense was that the maker had been relieved of their payment by a compromise settlement with the payee which he had performed.

*95Briefly the pertinent facts were these: Defendant Hipes was a tenant farmer in Brown county. He was burdened with debts. The Morrill State Bank held two of his notes, one for $400 and another for $1,312.61. These bore a high rate of interest and both were past due on March 26, 1941, at which…