McCornick & Co. v. Tolmie Bros.

Plaintiff sued to recover judgment upon a promissory note executed by defendants at Shelley, Idaho, payable to themselves at the Pingree National Bank of Ogden, Utah, by them indorsed and purchased by plaintiff from the holder. Plaintiff alleged it purchased the note before maturity, for value and without notice, and that it claimed the benefit of and relied upon the laws of the state of Utah and the decisions of the supreme court of that state relating to contracts of that character. The defenses urged were: (1) That the note was given for stock in the Pingree Sugar Company purchased by…