Boeger & Buchanan v. Hagen

The Farmers & Traders State Bank of Leon closed its doors in December, 1924, and a few days thereafter, a receiver was appointed. Plaintiff firm consisted of only two members, Myles Boeger and F. G. Buchanan. It had been engaged in business for several years before the time this bank closed. On November 10, 1924, the firm executed a note to this bank for $2,500. On November 17, 1924, Myles Boeger executed his personal note to the same bank for $300. These notes, when delivered to the Farmers & Traders State Bank, passed into the hands of the Federal Reserve Bank of Chicago. The record is not…