Cosmopolitan Life Insurance v. Head
Court of Appeals of Georgia
Complaint; from Whitfield superior court—Judge Tarver. May 11, 1918. The consideration recited in the note sued on was “value received.” The defendant pleaded failure of consideration, and alleged: “The note ’sired upon . . was executed as a part of an offer to purchase two shares of the capital stock of the Cosmopolitan Life Insurance Company of Atlanta, Georgia; . . no stock-has ever been issued and tendered to defendant in compliance with the consideration in said note.
Read the full summary
Complaint; from Whitfield superior court—Judge Tarver. May 11, 1918. The consideration recited in the note sued on was “value received.” The defendant pleaded failure of consideration, and alleged: “The note ’sired upon . . was executed as a part of an offer to purchase two shares of the capital stock of the Cosmopolitan Life Insurance Company of Atlanta, Georgia; . . no stock-has ever been issued and tendered to defendant in compliance with the consideration in said note. On the date of the execution of said note said Cosmopolitan Life Insurance Company executed and delivered to defendant…
1Opinion of the CourtWade, C. J.
1. The note sued upon was by its terms payable to the order of the maker. It appears to have been simply indorsed by him, “H. J. Head,” and to have been further indorsed as follows: “Pay to The Cosmopolitan Life Ins. Co. of Atlanta, Ga., or order. Cosmopolitan Life Insurance Company, by Wm. A. Wright, Ins. Com’r, State of Gedrgia, in charge.” “Cosmopolitan Life Insurance Company” and “The Cosmopolitan Life Insurance ComjDany” were entirely different and distinct corporations. Suit thereon was brought by “The Cosmopolitan Life Ins. Company,” as holder. “A promissory note payable to the order…
2Cases cited11 opinions
- Pryor v. American Trust & Banking Co.Court of Appeals of Georgia · 1915
- Hudson v. BestSupreme Court of Georgia · 1898
- Simmons v. CouncilCourt of Appeals of Georgia · 1908
- Wade v. ElliottCourt of Appeals of Georgia · 1912
- Hatcher & Co. v. National Bank of ChambersburgSupreme Court of Georgia · 1888
6 more not listed; retrieve them via the Exa API.
3Cited by1 opinion
- Roberts v. RolandCourt of Appeals of Georgia · 1957