Root v. Godard

OPINION OF

THE COURT.

The facts in this case are agreed, and the argument is made as on a motion for a new trial. The suit is brought on certain notes by the plaintiff as holder, which are alleged to be Toid. They were issued by the Bank of Saline, and the Bank of Brest, and are subject to the act of the 28th March, 183(j, called the “Safety Fund Act.” [Laws Mich. 1835-36, p. 157.] This act provides that no monied corporation subject to it, “shall issue any bill or note of the said corporation, unless the same be made payable on demand, and without interest.” These notes are in contravention of…