Blanding v. Wilsey
Supreme Court of Iowa
Appeal from Woodbury District Court. — Iíon. F. R. Gaynor, Judge. IT. N. Moore & Co., and H. N. Moore and P. G. Riedesel, members of the firm, are parties. Defendant in this suit, on the twelfth day of December, 1895, executed his promissory note to TI. N. Moore & Co. for six hundred dollars, payable six months after date.
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Appeal from Woodbury District Court. — Iíon. F. R. Gaynor, Judge. IT. N. Moore & Co., and H. N. Moore and P. G. Riedesel, members of the firm, are parties. Defendant in this suit, on the twelfth day of December, 1895, executed his promissory note to TI. N. Moore & Co. for six hundred dollars, payable six months after date. Before the maturity of the note it was assigned to the First National Bank of Sioux City, Iowa, by an indorsement thereon as follows: “Pay to the First National Bank of Sioux City, Iowa, or order. H. N. Moore & Gov For value received, we hereby guarantee the payment of the…
1Opinion of the CourtGranger, J.
This single proposition is presented on the appeal: Was the bank under a legal obligation to protect *48from loss the guarantors by a resort to the property pledged as security ? It should he borne in mind that the bank had not the property in its custody or care. In Fuller v. Tomlinson, 58 Iowa, 111, this court said: “We have a case where a holder of paper, who has a lien upon personal property for security, but is charged with no responsibility for its custody or care, fails to enforce his lien, and the security is lost. We have seen no case which goes to the extent of holding that such…
2Cases cited2 opinions
- Fuller v. Tomlinson Bros.Supreme Court of Iowa · 1882
- First National Bank of Fort Dodge v. O'ConnellSupreme Court of Iowa · 1892
3Cited by7 opinions
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- Whitehouse v. American Surety Co.Supreme Court of Iowa · 1902
- Masters v. BoyesSupreme Court of Oklahoma · 1914
- Schaffer v. AcklinSupreme Court of Iowa · 1928
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