First National Bank v. Abilene Hotel Co.

STEPHENS, Associate Justice.

The Abilene Hotel Company, a private corporation, was sued by the First National Bank of Tombstone on a negotiable promissory note for twenty-five hundred dollars, executed in the name of the hotel company by T. W. Daugherty, its secretary, payable to the order of Steffens & Lowdon, and endorsed and delivered by them to appellant bank before maturity, in due course of business. The hotel company denied the authority of its secretary to execute the note, which had been done to accommodate Steffens & Lowdon, in avoidance of which defense the bank pleaded its purchase…