Iowa Nat. Bank of Ottumwa v. Sherman

The facts in this case, now before us on rehearing, are stated in 17 S. D. 396, 97 N. W. 12, where it ap*239pears that the action is upon a promissory note executed by appellants to the Janney Manufacturing Company, and transferred to the respondent bank, before maturity, in the due course of business. As a complete defense appellants pleaded the breach of an express warranty, failure of consideration, and fraudulent representations as to certain farm machinery in settlement for which the note was executed, and the last two paragraphs of the answer are as follows: ‘‘That the said Jan-ney…