Freudenberg

This is an action upon a-promissory note arising under the law as it stood prior to the adoption of the negotiable instrument law. The ease was tried upon an agreed statement of facts, which showed that on August 10, 1912, defendant Lucas executed and delivered to respondent Jackson his promissory note for /two thousand dollars, payable to his order one year from date. At the same time Lucas delivered to Jackson as security for the payment of the note a stock certificate of a certain corporation. Thereupon, by mutual consent, the note and certificate were both delivered to one A. A. Curtis, with instructions to hold the same until the note matured, unless sooner paid, and if it were paid on the date of maturity, to deliver the note and stock certificate to the.their owner of the note. Prior to maturity the note was indorsed by Jackson to one Faraday, and by Faraday to the present plaintiff. On the date of maturity plaintiff went to the office;of Curtis to get the note, but was informed by those in charge' that Curtis was out of town, that the note was in his safe, and that they did not know when Mr. Curtis would return. These statements were made in the presence of Lucas, of whom…