HECHT v. HECHT

Promissory notes — Extension of time — Consideration — Affidavit of defense — Interest.

1. An agreement to extend the time of payment of a promissory note must be based on a consideration.

2. After a promissory note is due, a mere adjustment of interest will not constitute consideration supporting an extension of time of payment.

3. An agreement by a payee of a promissory note overdue that any purchases made by him thereafter at the maker's store were to be charged on account of the balance due on the note, until a certain time, does not show a consideration supporting a claimed extension of time of payment.

Argued October 1, 1930.

PER CURIAM, November 24, 1930:

We affirm the judgment in this case on the opinion of the court below.