Connor & Walker v. Donnell, Lawson & Co.
Texas Supreme Court
Appeal from Dallas, Tried below before the Hon, George N. Aldridge, Suit by appellees upon a promissory note, made by appellants in their firm, name, for $3,000, payable to the order of the First National Bank of Dallas, and indorsed by that bank to plaintiffs, dated Dallas, Texas, April i, 1878, and payable sixty days after date, at the office of Donnell, Lawson & Co. Connor & Walker pleaded a general denial, and four special answers, in which, in different aspects, they…
Read the full summary
Appeal from Dallas, Tried below before the Hon, George N. Aldridge, Suit by appellees upon a promissory note, made by appellants in their firm, name, for $3,000, payable to the order of the First National Bank of Dallas, and indorsed by that bank to plaintiffs, dated Dallas, Texas, April i, 1878, and payable sixty days after date, at the office of Donnell, Lawson & Co. Connor & Walker pleaded a general denial, and four special answers, in which, in different aspects, they alleged that the note sued on was void for usury. Special answer No. 1 alleged, that on the-- day of '--, 1877,…
1Opinion of the Court
Gould, Associate Justice.
It may be regarded as settled law, that if the note sued on was made for the accommodation of the bank, and Donnell, Lawson & Co., knowing that fact, discounted it for the bank at usurious rates, the defense of usury, if made out, would be available to both maker and indorser. 2 Parsons on Notes and Bills, ch. 12, p. 427; 1 Dan. on Neg. Inst., secs. 191, 865; Catlin v. Gunter, 1 Kernan, 369; Williams v. Storm, 2 Duer, 52.
But if the note were supported by a sufficient consideration, sq that it was valid against the makers in the hands of the bank, then the rule…
2Cases cited2 opinions
- Bullard v. ThompsonTexas Supreme Court · 1872
- Williams v. StormThe Superior Court of New York City · 1853
3Cited by5 opinions
- Dugan v. LewisTexas Supreme Court · 1891
- Lubbock Hotel Co. v. Guaranty Bank & Trust Co.Court of Appeals for the Fifth Circuit · 1935
- Smith v. Western & Southern Life Ins. Co.Court of Appeals for the Fifth Circuit · 1937
- Bowman v. BaileyCourt of Appeals of Texas · 1918
- Saturn Capital Corporation and Alfred J. Antonini, Individually and as Trustee v. Lee D. Dorsey, III, Trustee of the Dorsey Loving Trust Fund, and Lee Carroll, Trustee of the Dorsey Loving Trust Fund, Texas Court of Appeals, 1st District (Houston)2006