National Bank v. Dean
Supreme Court of Iowa
Appeal from Monona District Court. — Hon. Gr. W. Wakefield, Judge. The plaintiff avers, in substance, that bn the twentieth clay of July, 1889, the defendant, O. H. Dean, made to Nichols, Shepherd & Co., four promissory notes, for three hundred and fifty-two dollars and fifty cents each, due respectively, January 1, 1890, 1891, 1892, and 1893; that the last of the series of notes was signed by both C. H. Dean and Silas Dean; that C. H. Dean, gave as security for the payment…
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Appeal from Monona District Court. — Hon. Gr. W. Wakefield, Judge. The plaintiff avers, in substance, that bn the twentieth clay of July, 1889, the defendant, O. H. Dean, made to Nichols, Shepherd & Co., four promissory notes, for three hundred and fifty-two dollars and fifty cents each, due respectively, January 1, 1890, 1891, 1892, and 1893; that the last of the series of notes was signed by both C. H. Dean and Silas Dean; that C. H. Dean, gave as security for the payment of the notes, a chattel mortgage on a steam threshing machine outfit ; that a condition of said mortgage was that, in…
1Opinion of the CourtGranger, J.
1. Promissory notes: ftyt:ebomftñd6 purciiaser.
I. An important feature of this case is whether or not the plaintiff bank is such a good-faith purchaser of these notes as not to be subject to equities arising at their inception. It is beyond dispute that the first, note was transferred, if at all, before its maturity, and was not paid at maturity. It is also beyond dispute that the other three notes were assigned after maturity and default in the payment of the first note, and before the commencement of this suit. Before the commencement of the suit there was no election by the holder to have…
2Cited by5 opinions
- Clark v. SkeenSupreme Court of Kansas · 1900
- Citizens Bank v. Whinery Bros.Supreme Court of Iowa · 1900
- Dean v. Nichols & Shepard Co.Supreme Court of Iowa · 1895
- Vanderwilt v. BroermanSupreme Court of Iowa · 1926
- Central State Bank v. Commercial Building & Securities Co.Supreme Court of Iowa · 1928