Holland City State Bank v. Ahdawagam Furniture Co.

Plaintiff bank loaned the Lanz Furniture Company, a corporation, $5,000 upon its note, indorsed by five, perhaps six, of its directors. Pursuant to negotiations with the secretary and treasurer of the maker, and before the loan, plaintiff sent to it a note in blank for. signature, stating “same to be signed by Lanz Furniture Company and indorsed by” ;six directors, naming them. The corporate name of the maker was changed to Ahdawagam Furniture Company, defendant herein. When the note came due, it was paid in part, and a new note for $4,500 was given, made by defendant corporation and indorsed…