Bowen v. Needles Nat. Bank
Court of Appeals for the Ninth Circuit
In Error to the Circuit Court of tbe .United States for the Southern District of California. Abner T. Bowen sued the Needles National Bank upon four pauses of action, the first, second, and third of which were upon bills of exchange for $8,775, $8,300, and $5,864, which it was alleged in the complaint were drawn by the defendant at its place of business in the state of California upon the Chase National Bank, of New York, and payable to the order of the plaintiff under the…
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In Error to the Circuit Court of tbe .United States for the Southern District of California. Abner T. Bowen sued the Needles National Bank upon four pauses of action, the first, second, and third of which were upon bills of exchange for $8,775, $8,300, and $5,864, which it was alleged in the complaint were drawn by the defendant at its place of business in the state of California upon the Chase National Bank, of New York, and payable to the order of the plaintiff under the name of A. T. Bowen & Co., which bills of exchange had been dishonored by the drawee; and for a fourth cause of action…
1Opinion of the Court
GILBERT, Circuit Judge,
after stating the facts as above, delivered Hie opinion of the court.
It may be stated in general that no banking corporation has the power to become a guarantor of the obligation of another, or to lend its credit to any person or corporation, unless its charter or governing-statute expressly permits it. Farmers’ & Mechanics’ Bank v. Butchers’ & Drovers’ Bank, 16 N. Y. 125, Morford v. Bank, 26 Barb. 568; Thomp. Corp. § 5721. Under section 5136 of the Revised Statutes, national banking associations are given the power to “make contracts” and “to exercise by its board of…
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3Cited by25 opinions
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- Ellis v. Citizens' National BankNew Mexico Supreme Court · 1918
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