Jay v. Reed

Appellant was sued on a promissory note, executed by him to Cephas Clapp, who indorsed to Kelsey, and he to appellee.

The defense of usury was interposed to a portion of the note, and it was alleged that it was assigned after maturity.

Upon a trial the whole amount of the note was recovered.

There is proof in the record, from which it may be inferred that the first assignee, who received the note before maturity, had full knowledge of the usury, and that appellee obtained the note after its maturity.

The court gave the following instructions:

“ That if Clapp indorsed his name on the note and…