Rosenthal v. 34th Street Shop, Inc.

The undisputed facts in this case are as follows: The plaintiff discounted the note in evidence, which note was signed by the president of the 34th Street Shop, Inc., to the order of Jacob Shupack. The note had been discounted by Jacob Shupack before maturity. The evidence discloses further that the note was signed by the president, and that he personally received nothing in return therefor.

There is nothing on the face of the note to indicate that this instrument was not issued by the corporation in due course. It is contended by the defendant that the president signed the note as an…