Mosley

Action to recover upon a promissory note for $500 made by defendant. to plaintiff and one H. K. Fair all, in which, as alleged in the complaint, Fair all transferred his interest therein to plaintiff, who was the legal holder thereof, and all of which remains unpaid.

The answer not only raised issues as to the ownership of the note and nonpayment thereof, but alleged that the note was in part consideration for a transfer to him by plaintiff and Fairall of a one-third interest in an invention for - the improvement of cameras, for which at the time he paid $500 in. cash and gave the note in question; that thereafter by mutual consent he reconveyed the interest, whereupon the obligation was rescinded.

[1] Further answering and as a counterclaim, he alleged that at the time of the making of the note plaintiff and Fairall gave him a written agreement that in ease he should desire to sell the interest and improvement in cameras so transferred to him on September 8, 1914, which was the date of the note, they would repurchase the same on or about January 15, 1915, at the price so paid by him; that thereafter, to wit, on or about January 14, 1915, he elected to sell the same back to them…