Pemiscot County Bk. v. Tower Grove Bk. of St. Louis
Missouri Court of Appeals
Appeal from the Circuit Court of the City of St. Louis.— Hon. Rhodes E. Gave, Judge. (1) The facts in the present case are such that the rule that when an officer of a corporation pays his individual debt with the check of the corporation it bears notice on its face that it is issued without authority, does not apply. The transactions in which the two drafts in question were issued were transactions between the Pemiscot County Bank and the Tower )Grove Bank.
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Appeal from the Circuit Court of the City of St. Louis.— Hon. Rhodes E. Gave, Judge. (1) The facts in the present case are such that the rule that when an officer of a corporation pays his individual debt with the check of the corporation it bears notice on its face that it is issued without authority, does not apply. The transactions in which the two drafts in question were issued were transactions between the Pemiscot County Bank and the Tower )Grove Bank. Campbell v. Bank, 67 N. J. L. 301. (2)' Defendant having’ paid value (Tindle’s check, secured by collateral) for the draft for $2784.04,…
1Opinion of the Court
OPINION.
REYNOLDS, P. J.
(after stating the facts as above). —Taking up the draft for $2784.04 and the action of the court in rendering judgment for the full amount of that, we think that the learned trial court was in error. The check given by Tindle for the draft went by mail from the defendant bank to the Pemiscot County Bank, with the request that it be paid. In return the Pemiscot County Bank transmitted by mail to the defendant bank the draft drawn on the Security Bank and Trust Company of Memphis, Tennessee. By mail the Pemiscot County Bank transmitted that draft to the M|em-phis Company…
2Cases cited6 opinions
- Cochran v. ThomasSupreme Court of Missouri · 1895
- St. Charles Savings Bank v. EdwardsSupreme Court of Missouri · 1912
- State ex rel. Bixby v. City of St. LouisSupreme Court of Missouri · 1912
- Bender v. WeberSupreme Court of Missouri · 1913
- St. Charles Savings Bank v. Orthwein Investment Co.Missouri Court of Appeals · 1911
1 more not listed; retrieve them via the Exa API.
3Cited by5 opinions
- Blum, Admr. v. FrostMissouri Court of Appeals · 1938
- Fine v. Harney County National BankOregon Supreme Court · 1945
- Haynes v. Lincoln Trust Co.Supreme Judicial Court of Maine · 1944
- Citizens' Trust Co. v. CrollCourt of Appeals for the Seventh Circuit · 1923
- Fine v. Harney County National BankOregon Supreme Court · 1945