If it shall not appear that the note was transferred in good faith and for a valuable consideration before the service of the writ upon the trustee, the maker shall be charged as the trustee of the debtor, and the payment of the judgment rendered against him shall be a discharge from the note, or from such part thereof as is equal to the amount so paid by him, and all costs taxed in his favor.
Source. RS 208:19. CS 221:19. GS 230:23. GL 249:17. PS 245:23. PL 356:23. RL 412:24.