Planters Bank v. Brown

To a suit by the Planters Bank, of Yatesville, Georgia, against J. G. Brown, upon an unconditional promise in writing to pay, the defendant pleaded failure of consideration and fraud in the procurement of the note, alleging: (1) that the note was given for the purchase of certain shares of stock in the plaintiff bank, which stock is entirely worthless, and that he was induced to sign the subscription note (of which the note sued on is a renewal) by the promise and agreement, then made by the agent of . the promoter of the proposed corporation, that the defendant would not in fact have to pay…