Guaranty Bank of Oklahoma City v. State Bank of Stratford

Opinion by

ESTES, C.

The stipulated and uncontroverted facts are: That for a cash deposit of $1,000, made by defendant Arnold with his codefendant, State Bank of Stratford, on January 26, 1918, that bank Issued and delivered to him its negotiable certificate of deposit, in due form for said sum, payable 11 months after date with. interest until maturity at four per cent., and no interest thereafter; that said Arnold field said certificate until May 10, 1918, at which time he indorsed with recourse and duly delivered same to McTon Oil Company in exchange for shares of its capital stock; that…