Appellate Terms of the Supreme Court of New York April 12, 1926 (Johnson v. Sinclair Consolidated Oil Corp.)

Lydon, J.

This action Was brought by plaintiffs as the owners and holders of a negotiable coupon note for the sum of $1,000 *38issued by the defendant under the terms of a certain trust indenture. The answer is a general denial although it is admitted that payment of the note was refused; that the trustee did not institute suit and that the note had not been paid.