EVANS, Circuit Judge.
Determination of this appeal turns upon the effect we must give to the facts which are herewith briefly stated:
Beginning in 1926 appellant executed its several notes (which ran for three months) to the bank. They were renewed every three months (twenty-three times in all) by taking up the notes when they became due and executing new ones. Appellee purchased one of these notes and took a new one when a due note was paid. Appellant did...
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