Bankers Trust Co. v. Beinhauer

On June 24, 1929, the defendant-appellee L. L, Beinhauer executed a promissory note payable to the order of the Bankers Trust Company, plaintiff and appellee, in the sum of $2,500, together with interest thereon at the rate of 8 per cent per annum from maturity, payable semiannually. Under the concession of all the parties, the foregoing note was thus executed by L. L. Beinhauer for the purpose of obtaining money for and on behalf of the Peoples Oil Company, a corporation. It appears that the Bankers Trust Company, appellee, was not willing to loan the money to L. L. Beinhauer unless the…