Wabash Valley Trust Co. v. Fisher

The appellant failed in a suit on a promissory note in which the appellee answered no consideration. The undisputed facts and the evidence most favorable to the judgment were as follows: About June 30, 1937, the appellee executed a note, complete and regular on its face, for $1,500, payable to the appellant, and due on call or within 90 days. The appellee placed the note in the hands of a stock salesman with whom he was dealing on the condition and with the understanding that he was to hold the same until certain corporate shares were delivered to the appellee after which the note was to be…