Johnston v. Schnabaum
Supreme Court of Arkansas
Appeal from Randolph Circuit Court; John W. Meeks, Judge; The Bank of Maynard is not liable. It is shown in evidence that its indorsement on the noté was without consideration to it,' and was made for the purpose of collection only. Parol evidence was admissible to show the character of the indorsements, why and 'for what purpose they were made. 2 Enc. of Evidence, 521, 537, 255; 27 Ark. 329; 15 Ark. 372; 29 Ark. 501; Joyce on 'Defenses to Com.
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Appeal from Randolph Circuit Court; John W. Meeks, Judge; The Bank of Maynard is not liable. It is shown in evidence that its indorsement on the noté was without consideration to it,' and was made for the purpose of collection only. Parol evidence was admissible to show the character of the indorsements, why and 'for what purpose they were made. 2 Enc. of Evidence, 521, 537, 255; 27 Ark. 329; 15 Ark. 372; 29 Ark. 501; Joyce on 'Defenses to Com. Paper, § § 212, 255. The fact, if true, that the Bank of Maynard received no consideration for its indorsement is no defense except as against the…
1Opinion of the CourtMcCulloch, J.
J. L. Johnston and G. H. Counts, together with G. S. Johnston, now deceased, executed to one Redwine as guardian of an infant their negotiable promissory note for the sum of $197 with interest from date, and at or before maturity of the note Redwine delivered it, bearing his blank indorsement, to the Bank of Maynard for collection and deposit of the proceeds to his credit. Appellants J. E. Johnston and Counts were sureties on the note for G. S. Johnston, the principal obligor. Subsequently, and after the maturity of the note, the Bank of Maynard, which was located at Biggers, Randolph County,…
2Cases cited6 opinions
- Dale v. GearSupreme Court of Connecticut · 1871
- Lawrence v. Stonington BankSupreme Court of Connecticut · 1827
- Doolittle v. FerrySupreme Court of Kansas · 1878
- Ricketts v. PendletonCourt of Appeals of Maryland · 1859
- Lovejoy v. Citizens' BankSupreme Court of Kansas · 1880
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3Cited by20 opinions
- Ellis v. First National BankSupreme Court of Arkansas · 1924
- First Nat. Bank of Winnsboro v. First Nat. Bank of QuitmanTexas Commission of Appeals · 1927
- Texas Baptist University v. PattonCourt of Appeals of Texas · 1912
- Citizens Trust Co. v. WardMissouri Court of Appeals · 1917
- Howell v. McCartyWest Virginia Supreme Court · 1916
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