Wenzel v. Conrad Schmitt Studios

As appears more particularly from the foregoing statement of facts, suit was brought on a promissory note given to the grantor of land as part payment of the purchase price. The grantor indorsed the note to a bank for value before due. The bank sued the grantor and the maker and the accommodation indorsers to recover on the note. After judgment was ordered for recovery of the amount of the note, but before it was entered, a stipulation was signed by all the parties providing for a present payment and for payment of the balance in the future in instalments at specified times and for specified…