Second National Bank v. Diefendorf
Illinois Supreme Court
Appeal from the Circuit Court of Peoria county; the Hon. J. W. Cochran, Judge, presiding. This was an action of assumpsit, brought by Robert Diefendorf, the appellee, against the Second National Bank of Peoria, in the circuit court of Peoria county, upon an alleged liability to indemnify the plaintiff as drawer of a bill of exchange, as follows: $27,836.38. Chicago, July 2, 1870. At sight pay to the order of James DeKoven, Esq., cash.in N. Y. Ex., $27,836.38, value received,…
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Appeal from the Circuit Court of Peoria county; the Hon. J. W. Cochran, Judge, presiding. This was an action of assumpsit, brought by Robert Diefendorf, the appellee, against the Second National Bank of Peoria, in the circuit court of Peoria county, upon an alleged liability to indemnify the plaintiff as drawer of a bill of exchange, as follows: $27,836.38. Chicago, July 2, 1870. At sight pay to the order of James DeKoven, Esq., cash.in N. Y. Ex., $27,836.38, value received, and charge to account of as advised. R. Diefendorf. To J. W. Rae, Esq., Peoria, 111. DeKoven was cashier of- the…
1Opinion of the CourtJustice Sheldon
The points raised upon the record as grounds of reversal are, that the contract alleged being made by the president of the Second National Bank of Peoria, was not binding upon the bank, it being one outside of the usual course of banking business, and one which the president of the bank, by virtue of his power as such, (he having no special authority,) was not authorized to make so as to bind the bank,—that the conditions of the contract were not performed, Diefendorf not having complied with instructions in his purchase of the grain,— and that the undertaking in question was with the…
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