City Bank v. Taylor
Supreme Court of Iowa
Appeal from Marshall District Cov/rt. This is a suit, aided by attachment, upon seven promissory notes executed by the defendants to the order of Hulbert Bros., and by them indorsed before maturity, and held by the plaintiff as collateral security for money advanced to Hulbert Bros. The defendant for answer alleges that the notes were fully paid in money and property to Hulbert Bros., who were authorized by plaintiff to receive such payment.
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Appeal from Marshall District Cov/rt. This is a suit, aided by attachment, upon seven promissory notes executed by the defendants to the order of Hulbert Bros., and by them indorsed before maturity, and held by the plaintiff as collateral security for money advanced to Hulbert Bros. The defendant for answer alleges that the notes were fully paid in money and property to Hulbert Bros., who were authorized by plaintiff to receive such payment. The defendant also alleges that the attachment was wrongfully and maliciously sued out, and claims damages therefor in the sum of $500. The cause was…
1Opinion of the CourtDay, J.
The evidence shows that the notes were indorsed to the plaintiff before maturity, and were held by it as collateral security for advancements made to Hulbert Bros. *67Upon this branch of the case the court instructed the jury as follows: “There is no conflict of evidence as to the fact that plaintiff held the notes before maturity. The law presumes the assignment to plaintiffs of the notes was for value, and no proof is offered to show that the consideration was not sufficient to sustain the right of plaintiffs to the notes. Unless, therefore, the plaintiff authorized defendant to pay Hulbert…
2Cited by2 opinions
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- Newhall Savings Bank v. BuckSupreme Court of Iowa · 1924