Prescott National Bank v. Butler
Massachusetts Supreme Judicial Court
Contract, upon a promissory note for $12,500, dated June 18, 1886, and made "payable four months thereafter to the order of the defendant, and by him indorsed. Trial in the Superior Court, without a jury, before Braley, J., who found for the plaintiff for the full amount of the note with interest; and the defendant alleged exceptions. The facts appear in the opinion.
1Opinion of the CourtKnowlton, J.
The defendant contends that the plaintiff cannot recover; first, because it has no. title to the note; and secondly, because the note was made on the Lord’s day, in vio*549lotion of the statute. It is argued that, under the statutes of the United States, national banks cannot buy or sell promissory notes, and that, inasmuch as the plaintiff obtained' the note by purchase, it has no right to hold or collect it.
On the question whether a national bank can buy promissory notes in the market as a natural person can, there is a conflict of authority. Its power to do so, if it has any, is conferred by…
2Cases cited16 opinions
- National Bank v. MatthewsSupreme Court of the United States · 1879
- National Bank v. WhitneySupreme Court of the United States · 1881
- Pape v. Capitol BankSupreme Court of Kansas · 1878
- Atlas National Bank v. SaveryMassachusetts Supreme Judicial Court · 1879
- Kenworthy v. SawyerMassachusetts Supreme Judicial Court · 1878
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3Cited by16 opinions
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- Hubbard v. Worcester Art MuseumMassachusetts Supreme Judicial Court · 1907
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