Burns

Plaintiff brought the action to recover on a promissory note executed and delivered by defendant at Diamond Springs, California, September 7, 1915, to Great Western Securities Corporation, due one year after date at seven per cent interest, assigned to plaintiff by the following indorsement: “Pay to the order of Mark L. Burns, Great Western Securities Corporation, by S. H. Whisner, Pres. Payment Guaranteed. Signed: S. H. Whisner.”

In his amended answer, defendant admits the execution of the note but denies that it was executed or given for a valuable or any consideration, and alleges that it is without consideration and void. Denies that plaintiff became the -owne r or holder of said note before maturity or that he is the owner or holder thereof for value or otherwise. Alleges that said note was given in payment of certain stock of said Great Western Securities Corporation, which said stock was represented to defendant by said corporation “to be valuable and to be reasonably worth the price at which it was sold to defendant, but said stock was then, and ever since has been, entirely worthless and was known at the time of said agreement ,to sell the same to defendant by said Great…