Green

On December 28, 1920, plaintiff loaned Ms close friend, defendant M. N. Newmark, the sum of $2,500. In addition, and in order to stay execution on a judgment rendered against said defendant, plaintiff became surety on a stay bond. Such judgment was 'appealed by Newmark and was affirmed. Demand was made on plaintiff by the judgment creditor to pay said judgment, with interest and costs, in accordance with the terms of the bond executed by him. At the time, Newmark was unable to pay said judgment, but he and his wife, the defendant Jessie P. Newmark, were beneficiaries under a trust of which the Title Insurance & Trust Company was trustee, a part of the corpus of said trust being 87% shares of the capital stock of the Standard Woodenware Company and a promissory note for $1500 secured by a mortgage of real estate. It was agreed in writing dated May 1, 1922, between plaintiff and defendants, that plaintiff would accept from said trustees said shares of stock and promissory note in satisfaction of defendant M. N. Newmark’s liability by reason of the payment of said judgment by plaintiff and in satisfaction of the loan of $2,500 theretofore made. It was further agreed that if plaintiff…