City Nat. Bank v. Kelly
Supreme Court of Oklahoma
Error from District Court, Greer County; G. A. Brown, Judge. Action- by the City National Bank against S. E. Kelly and another. Judgment for defendants, and plaintiff brings error. This was an action on a promissory note in the following form: “1,000.00. Hollis, Oklahoma, Nov. 23, 1910. “Dec. 1st. 1911, without grace, after date, for value received, we as principals promise to pay to the order of W. B. Denton one thousand and no-100 dollars at the Groves National Bank.
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Error from District Court, Greer County; G. A. Brown, Judge. Action- by the City National Bank against S. E. Kelly and another. Judgment for defendants, and plaintiff brings error. This was an action on a promissory note in the following form: “1,000.00. Hollis, Oklahoma, Nov. 23, 1910. “Dec. 1st. 1911, without grace, after date, for value received, we as principals promise to pay to the order of W. B. Denton one thousand and no-100 dollars at the Groves National Bank. Both principal and interest payable in lawful money of the United States, with interest at 10 per cent, per annum from date…
1Opinion of the Court
Opinion by
DEVEREUX, C.
(after stating the facts as above). It is settled in this jurisdiction that one who takes a negotiable instrument as collateral- security is a purchaser for value, and unaffected by any equities between the original parties to the note. Farmers’ National Bank of Tecumseh v. McCall, 25 Okla. 600, 106 Pac. 866, 26 L. R. A. (N. S.) 217. It is also settled that the provision in a note, waiving presentment ior payment, notice of nonpayment, and protest and consenting that time for payment may be extended without notice, does not render the note nonnegotiable (Missouri Lincoln…
2Cases cited5 opinions
- Farmers' Nat. Bank of Tecumseh v. McCallSupreme Court of Oklahoma · 1910
- Raymond v. EdelbrockNorth Dakota Supreme Court · 1906
- Gourley v. Pioneer Loan Co.Supreme Court of Oklahoma · 1915
- Missouri-Lincoln Trust Co. v. LongSupreme Court of Oklahoma · 1911
- Simon v. MerrittSupreme Court of Iowa · 1871
3Cited by11 opinions
- Consolidated Cut Stone Co. v. SeidenbachSupreme Court of Oklahoma · 1937
- American National Bank v. KerleyOregon Supreme Court · 1923
- Anaheim National Bank v. DolphCalifornia Supreme Court · 1927
- Graves v. FitzpatrickSupreme Court of Oklahoma · 1927
- Mattes v. BairdSupreme Court of Oklahoma · 1935
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