National Loan & Exchange Bank v. Hoyt

The opinion of the Court was delivered by

Mr. Justice StabeEr.

This is an action for recovery on a promissory note for $3,000.00, dated April 23, 1923, payable ninety days after date, given to The Liberty National Bank of Columbia (hereinafter referred to as the Liberty Bank) by the defendant, James A. Hoyt, the complaint alleging that the plaintiff, the National Loan & Exchange Bank of Columbia (hereinafter referred to as the Exchange Bank), “is now the owner and holder thereof.”

The answer alleges that during the year 1921 defendant was a member of the Board of Directors of the Liberty Bank,…