Schneider v. Johnson
Missouri Court of Appeals
Appeal from Jasper Circuit Court.— Hon. D. E. Blair, Judge. (1) The holder of negotiable-paper as collateral for a pre-existing debt, having given no consideration for it, holds it liable to the equity existing between the original parties. Napa Yalley Wine Co. v. Rinehart, 42 Mo. App. 172; Loewen v. Forsee, 137 Mo. 29; Wright v. Trust Co., 144 Mo.
Read the full summary
Appeal from Jasper Circuit Court.— Hon. D. E. Blair, Judge. (1) The holder of negotiable-paper as collateral for a pre-existing debt, having given no consideration for it, holds it liable to the equity existing between the original parties. Napa Yalley Wine Co. v. Rinehart, 42 Mo. App. 172; Loewen v. Forsee, 137 Mo. 29; Wright v. Trust Co., 144 Mo. App. 648. (2) The public have a right to assume in dealing with a corporation that its actual capital in money or moneys worth is equal to its capital stock. 1 Cook on Corporations, p. 392, sec. 199. (3) And one. of the best and most frequent…
1Opinion of the CourtGray, J.
This action in equity was instituted against James Mclndoe, Charles T. Johnson, John C. Shofner, James B. Lillie, and the First National Bank of Mt. Yernon, Indiana. The cause was dismissed as to Mclndoe, and on hearing plaintiff’s bill was dismissed and he has appealed.
The petition alleges that all of the defendants except McIndoe, are non-residents of the state of Missouri; that on or about the 23rd day of December, 1909, plaintiff obtained a judgment in a justice court against the Wautauga Mining Company, a corporation, for the sum of $76.84; that on the 11th day of February, 1910, an…
2Cases cited16 opinions
- Boutell v. WarneSupreme Court of Missouri · 1876
- Foster v. PotterSupreme Court of Missouri · 1866
- McCormick Harvesting Machine Co. v. HillMissouri Court of Appeals · 1904
- First National Bank v. RockefellerSupreme Court of Missouri · 1906
- Shields v. HobartSupreme Court of Missouri · 1903
11 more not listed; retrieve them via the Exa API.
3Cited by4 opinions
- Real Estate Investment Co. v. WinnMissouri Court of Appeals · 1938
- Ingraham v. EnglandCourt of Appeals of Texas · 1924
- Russell v. AllenMissouri Court of Appeals · 1973
- Schneider v. JohnsonMissouri Court of Appeals · 1912