Warner v. de Cuevas

In this' action instituted to recover upon certain promissory notes defendant interposes as a defense that the discounting of the notes was in violation of subdivision 1 of section 130 of the Banking Law, and that accordingly plaintiff may not recover therefor. Plaintiff moves under rule 109 of the Rules of Civil Practice to strike out this defense as insufficient in law. Examination of the stated section of the Banking Law discloses that officers, directors or employees of banks and *151trust companies shall not discount commercial paper known to have heen offered for discount to their bank or…