Marks v. First National Bank
Supreme Court of Alabama
Appeal from the City Court of Montgomery. Tried before the Hon. Tiios. M. Arrington. This action was brought by the First National Bank of Montgomery, against Samuel B. Marks, Jr., and was founded on two promissory notes, one for $1,600, and the other for $1,680; each of which was signed by W. C. Fellows as maker, payable to the order of the First National Bank of Montgomery, at its banking-house in the city of Montgomery, and indorsed by N. H. B. Dawson, J. B. Gaston, and…
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Appeal from the City Court of Montgomery. Tried before the Hon. Tiios. M. Arrington. This action was brought by the First National Bank of Montgomery, against Samuel B. Marks, Jr., and was founded on two promissory notes, one for $1,600, and the other for $1,680; each of which was signed by W. C. Fellows as maker, payable to the order of the First National Bank of Montgomery, at its banking-house in the city of Montgomery, and indorsed by N. H. B. Dawson, J. B. Gaston, and the defendant, Samuel B. Marks, Jr. The note for $1,600 was dated at Selma, July 17th, 1882, and payable on the 1st…
1Opinion of the CourtSomepyille, J.
The main question in this case, reduced to its last analysys, is simply, whether, in the case of accommodation negotiable paper, the fraud of the maker, in procuring the signature of an accommodation indorser, is a good defense to a suit brought against such indorser by the payee, who knows the nature of the paper, but is ignorant of the fraud.
We are of opinion, upon fundamental principles of law governing the subject of commercial paper, that the defense can not be sustained.
1. Accommodation indorsers, beyond all doubt, are liable precisely to the same extent as if they had received value,…
2Cases cited19 opinions
- Deardorff v. ForesmanIndiana Supreme Court · 1865
- Bibb v. ReidSupreme Court of Alabama · 1841
- Spira v. Hornthall, Whitehead, Weissman & Co.Supreme Court of Alabama · 1884
- Rutledge's Adm'r v. Townsend, Crane & Co.Supreme Court of Alabama · 1863
- Mauldin v. Branch Bank at MobileSupreme Court of Alabama · 1841
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3Cited by18 opinions
- Ex parte Goldberg & LewisSupreme Court of Alabama · 1914
- Rudulph v. BrewerSupreme Court of Alabama · 1892
- Farley National Bank v. HendersonSupreme Court of Alabama · 1897
- Thompson v. MadduxSupreme Court of Alabama · 1897
- Birmingham News Co. v. MoseleySupreme Court of Alabama · 1932
13 more not listed; retrieve them via the Exa API.