37 Iowa 189 | Iowa | 1873
As a defense, the answer sets up the fact that the note was not filed for probate within time; that it was given for certain ewes which the payee warranted to be with lamb and agreed to deduct from the note the sum of $20 for each ewe that proved not to be with lamb; that on account of the failure oí the ewes to be with lamb, the note should be credited with the sum of $100; that such credit has never been made; that plaintiff has no interest in the note, holding it in trust for the payee; that plaintiff obtained the note after maturity without paying any consideration therefor, and had notice of all the equities against the paper.
II. The evidence shows that plaintiff became the holder of the note for valuable consideration before its maturity, and it is also established that the matter in regard to the warranty of the ewes was settled by the payee with the decedent in his life-time. The defense based upon that transaction is not sustained.
No other points in this case are presented for our consideration. ,
In our opinion the circuit court erred in rendering judgment for defendant; it is reversed and the cause is remanded for further proceedings consistent with the opinion.
Reversed.