Dodge

The plaintiff: had judgment below and defendant appeals therefrom. The facts involved in this case are comparatively simple and relate to a transaction whereby defendant acquired from plaintiff certain shares of stock. Plaintiff was the owner of shares of stock of the Cawston Ostrich Farm and had had negotiations with defendant looking toward the sale or exchange of the same to defendant. On February 28, 1925, plaintiff submitted to defendant a statement of the terms and conditions upon which he would sell his stock interest in the Cawston Ostrich Farm to defendant. This written proposal so made by plaintiff to defendant was duly accepted in writing by said defendant, and in evidence of such acceptance he wrote upon the document “Accepted: R. K. Snow”.

Among other items mentioned in this written proposal, which plaintiff proposed to accept from defendant for his stock, was the following: “3. Assignment of note, C. L. Clinch, for $9,000.00 (Drawing seven per cent interest), secured by collateral already submitted, said note to become due in about six months, and be guaranteed by yourself.” (Italics ours.) Some days later the note referred to in the agreement just quoted was by…