Benton v. German-American National Bank
Supreme Court of Missouri
Appeal from, Jackson Circuit Court. — Hon. J. H. Slover, Judge. (1) Tlie note was without consideration. (2) The note was procured by fraud and the bank is chargeable with knowledge thereof. A bank is bound by the knowledge of any director who takes part in the discount of a note presented to the bank for discount as to equities affecting the liability of the maker of the note. Atlantio Mills v. Indian Orchard Mills, - 147 Mass. 268; 1 Mor. Priv.
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Appeal from, Jackson Circuit Court. — Hon. J. H. Slover, Judge. (1) Tlie note was without consideration. (2) The note was procured by fraud and the bank is chargeable with knowledge thereof. A bank is bound by the knowledge of any director who takes part in the discount of a note presented to the bank for discount as to equities affecting the liability of the maker of the note. Atlantio Mills v. Indian Orchard Mills, - 147 Mass. 268; 1 Mor. Priv. Corp., see. 540,- par. a., b. and c.; Wade on Notice [2, Ed.], secs. 675, 676; 1 Am. and Eng. Encyclopedia of Law, p. 423; Bank v. Christopher, 40…
1Opinion of the CourtBbaoe, J.
This is a bill in equity to cancel a negotiable promissory note and to recover interest paid thereon, against the holder, charging that the note is without consideration, and was procured by fraudulent misrepresentations, of which the defendant had notice.
On the sixth of July, 1889, W. E. Wyman was defendant’s cashier, and also secretary and treasurer *334of the Kansas City Glue and Fertilizer Company. The company was largely indebted to the bank. The evidence tends to prove that on that day the said Wyman as secretary and treasurer of the company, agreed to sell the plaintiff, R. E. Benton, and…
2Cases cited7 opinions
- Innerarity v. Merchants' National BankMassachusetts Supreme Judicial Court · 1885
- Merchants' National Bank v. LovittSupreme Court of Missouri · 1893
- Mechanics' Bank v. SchaumburgSupreme Court of Missouri · 1866
- First National Bank v. LoyhedSupreme Court of Minnesota · 1881
- Johnston v. ShortridgeSupreme Court of Missouri · 1887
2 more not listed; retrieve them via the Exa API.
3Cited by23 opinions
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- Aycock Bros. Lumber Co. v. First National BankSupreme Court of Florida · 1907
- Bank of Overton v. ThompsonCourt of Appeals for the Eighth Circuit · 1902
- Gate City Building & Loan Ass'n v. National Bank of CommerceSupreme Court of Missouri · 1894
- Southern Commercial Savings Bank v. Slattery's AdministratorSupreme Court of Missouri · 1902
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