Stroud v. Payne

This is an action on a promissory note, brought by the payee against the five makers thereof. One of the defendants was eliminated because of his discharge in bankruptcy proceedings. Plaintiff recovered judgment against the other four defendants, and they have appealed.

In their answer defendants admitted the execution of the note, and, as defenses, alleged that it was given with*614out consideration, solely for accommodation of plaintiff, and also pleaded the statute of limitations.

The record discloses that plaintiff and defendants were stockholders and directors of the Albert Lea Farms Company…