Ellis v. First National Bank

Felix Lamm and John Armer were each indebted to the Realty Securities Company, a corporation, in the sum of $5,000. This indebtedness was evidenced by the promissory note of each of said persons given to the corporation. The Realty Securities Company, wishing to realize upon the indebtedness, entered into negotiations with the appellee for the sale and purchase of said notes. The appellee agreed to purchase the notes, less the customary discount, provided the Realty Securities' Company would furnish an acceptable indorser or collateral; the character of appellee as a national bank requiring…