Hulse v. Knapp

KNIGHT, District Judge.

This suit is brought to recover on a note for $500 made November 12, 1932, by defendant and delivered to the First National Bank of Sodus, N. Y. It is submitted for determination upon stipulation of facts. The bank ceased doing business on January 12,' 1933, and a receiver was appointed. The note was presented for payment on February 12, 1933, and payment was refused, except that the bank offset against the note the sum of $3.49, the amount remaining on deposit to the credit of the debtor.

Defendant was a partner having a half interest in the Knapp Drug Company. The…