Farmers' State Bank v. Forsstrom
Oregon Supreme Court
In Banc. This is an action on a promissory note for $2,500— signed by the four defendants in favor of plaintiff. Defendant, James A. Pilcher, alone answered. The trial court sustained plaintiff’s demurrer to the amended answer, and defendant declining to further plead judgment was rendered against him from which he appeals.
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In Banc. This is an action on a promissory note for $2,500— signed by the four defendants in favor of plaintiff. Defendant, James A. Pilcher, alone answered. The trial court sustained plaintiff’s demurrer to the amended answer, and defendant declining to further plead judgment was rendered against him from which he appeals. The answering defendant, whom we will hereafter designate as defendant, alleged in effect that he signed the note at the request of the firm of Forsstrom-Pilcher Co. and of plaintiff as an accommodation maker without any consideration therefor, which plaintiff well knew;…
1Opinion of the Court
BEAN, J. —
1, 2. The answer, the challenge to which was sustained, is lengthy and somewhat involved. It is denominated both a counterclaim and an estoppel. It is clear that the defendant does not recognize his primary liability on the note that he is absolutely required to pay the same in accordance with that part of the Negotiable Instrument Law contained in Section 6023, L. O. L. The defendant signed the note in suit as maker without receiving value therefor, for the purpose of lending his name to Forsstrom-Pilcher Co. He is therefore liable on the instrument to the plaintiff who is a holder…
2Cases cited12 opinions
- Union Trust Co. v. McGintyMassachusetts Supreme Judicial Court · 1912
- Vanderford v. Farmers' & Mechanics' National BankCourt of Appeals of Maryland · 1907
- Cellers v. MeachemOregon Supreme Court · 1907
- Bradley Engineering & Manufacturing Co. v. HeyburnWashington Supreme Court · 1910
- Wolstenholme v. SmithUtah Supreme Court · 1908
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3Cited by17 opinions
- Merchants' National Bank v. SmithMontana Supreme Court · 1921
- Continental Mutual Savings Bank v. ElliottWashington Supreme Court · 1932
- Peter v. FinzerNebraska Supreme Court · 1928
- Central Bank of Bingham v. PerkinsIdaho Supreme Court · 1926
- James R. Yost v. Alberta G. MorrowCourt of Appeals for the Ninth Circuit · 1959
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