Raleigh Banking & Trust Co. v. Clark
Supreme Court of North Carolina
Civil aotioN tried at April Term, 1916, of Wake, before Connor, J., upon these issues: 1. Is the plaintiff a corporation, duly authorized to conduct a banking business in the State of North Carolina, as alleged in the complaint? Answer: “Yes.” 2. Is the plaintiff purchaser for value without notice, and before maturity, of the note set out in the complaint? Answer: “No.” 3. In what sum, if any, is defendant indebted to plaintiff on note set out in complaint ? Answer: Upon the…
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Civil aotioN tried at April Term, 1916, of Wake, before Connor, J., upon these issues: 1. Is the plaintiff a corporation, duly authorized to conduct a banking business in the State of North Carolina, as alleged in the complaint? Answer: “Yes.” 2. Is the plaintiff purchaser for value without notice, and before maturity, of the note set out in the complaint? Answer: “No.” 3. In what sum, if any, is defendant indebted to plaintiff on note set out in complaint ? Answer: Upon the findings the court adjudged that plaintiff was entitled to recover nothing. Plaintiff appealed.
1Opinion of the CourtBeowN, J.
This action is brought to recover on a note for $596.80, alleged to have been executed by defendant to John M. Hammer, dated 22 December, 1913, due six months after date and indorsed by Hammer to plaintiff 20 March, 1914.
In his answer defendant alleges that the note sued on was given to said Hammer as premium upon a policy of life insurance to be issued by the New York Life Insurance Company, of which said Hammer was agent; that the note was executed upon condition that said Hammer would arrange to make defendant a loan of money through said insurance company, based upon said policy,…
2Cases cited2 opinions
- Bryant v. Metropolitan Life InsuranceSupreme Court of North Carolina · 1908
- American National Bank v. FountainSupreme Court of North Carolina · 1908
3Cited by2 opinions
- Collins v. . VandifordSupreme Court of North Carolina · 1928
- Commercial Security Co. v. Main Street PharmacySupreme Court of North Carolina · 1917