Bosworth v. Cady

(after stating the facts as above).

The gravamen of appellant’s contention and the reason most earnestly urged to sustain a reversal in this ease is that in this particular instance Tayler, the president of the receiver’s bank, was not the agent of the bank, and that knowledge which he possessed either as to the infirmity of the paper involved or the existence of the equitable defenses in the several makers came to him while acting in his own interest, in an adversary attitude to the bank; therefore the bank was an innocent holder of the paper in due course and not bound by any knowledge, act,…