First Nat. Bank v. C. W. Leeton & Bro.

The appellant bank sued appellees upon their promissory note. The appellees pleaded failure of consideration, a violation of the so-called Blue Sky Laws of this state, and that the appellant bank was not an innocent purchaser for value. Mr. Forgéy, president of the bank, testified that he bought the note for the bank, at the bank, for a valuable consideration before maturity, and that he knew nothing about the consideration of the note. The note is dated February 11, 1920, and is made payable to Barney Thompson or order. Mr. Forgey was asked on examination if he did not know that the note…