Foreman

This is an appeal by the plaintiff from an unsatisfactory judgment in its favor upon several promissory notes.

September 9, 1925, the Cox-Klemin Aircraft Corporation of New York executed, unconditionally indorsed and transferred to the plaintiff for a valuable consideration nine promissory notes for $5,000 each. Prior to the transfer they were each indorsed by the defendant. The notes were in the following form:

The Aircraft Corporation was financially involved. The defendant Foreman was a substantial stockholder in the corporation and resided at Los Angeles. A plan existed to liquidate the indebtedness by executing and discounting notes of the corporation, and by then recapitalizing the institution on the basis of a much larger valuation. This plan was disclosed to the defendant by Mr. Smyth, a member of the New York law firm of Lee, Smyth & Wise, which had charge of the refinancing project. For the purpose of extending his financial standing to the paper, the defendant filled out these nine notes at his office in Los Angeles, in the form above quoted, with the exception that the dates were left blank and the notes were not then signed or indorsed by the Aircraft Corporation.…