Dumartrait v. Kemper

Plaintiff, for the use of Henry Penn and his creditors, sued the defendant on certain promissory notes, amounting in the aggregate to ninety-ñve hundred dollars, executed by defendant to the order of Henry Penn and indorsed by him.

The defense is failure of consideration caused by eviction of defendant of the principal part of the tract of land for the purchase price of which these notes were given.

The plaintiff is not a third holder before due for value. He holds *621these notes as agent ior Henry Penn, the payee, with the understanding that when collected a part of .the proceeds is to be applied…