Simmons National Bank v. Dilley Foundry Co.
Supreme Court of Arkansas
. Appeal from Jefferson Circuit Court; Antonio B. Grace, Judge; Accommodation paper of a corporation is good in the hands of a bona ñde holder if .the corporation had, under any circumstances, authority to issue commercial paper. 28 Minn. 291; 156 Ind. 487; 101 Mass. 57. Appellant is a bona ñde holder. 97 Mass. 494; 62 Ark. 41; 3 Thomps. on Corp. 141; 26 N. Y. 505; 26 Barb. 23; 69 Ark. 147; 65 Ark. 204; 2 Mo.
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. Appeal from Jefferson Circuit Court; Antonio B. Grace, Judge; Accommodation paper of a corporation is good in the hands of a bona ñde holder if .the corporation had, under any circumstances, authority to issue commercial paper. 28 Minn. 291; 156 Ind. 487; 101 Mass. 57. Appellant is a bona ñde holder. 97 Mass. 494; 62 Ark. 41; 3 Thomps. on Corp. 141; 26 N. Y. 505; 26 Barb. 23; 69 Ark. 147; 65 Ark. 204; 2 Mo. App. 299. Stockholders and directors having knowledge of the corporation’s indorsement are estopped to complain.- 3 Cook on Corp. 2072; 97 Fed. 723; 122 N. Y. 165; no U. S. 7. And the…
1Opinion of the CourtFrauenthal, J.
This was an action instituted by the Simmons National Bank to recover upon two promissory notes. One of these notes was for $3,000, and was dated November 2, 1908, and was signed by F. B. Dilley as the maker thereof. The other note was for $5,000, and was dated December 31, 1908, and was signed by Leola Dumber Company as the maker thereof. Both notes were made payable to the order of the Simmons National Bank four months after date, and were indorsed in blank by the Dilley Foundry Company by F. B. Dilley, treasurer. The latter note was also indorsed by F. B. Dilley. The action was instituted…
2Cases cited11 opinions
- Central Transportation Co. v. Pullman's Palace Car Co.Supreme Court of the United States · 1891
- Thomas v. Railroad Co.Supreme Court of the United States · 1880
- Pittsburgh, Cincinnati & St. Louis Railway Co. v. Keokuk & Hamilton Bridge Co.Supreme Court of the United States · 1889
- West St. Louis Savings Bank v. Shawnee County BankSupreme Court of the United States · 1877
- Park Hotel Co. v. Fourth Nat. Bank of St. LouisCourt of Appeals for the Eighth Circuit · 1898
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3Cited by12 opinions
- Richeson v. National BankSupreme Court of Arkansas · 1910
- American Bonding Co. v. Laigle Stave & Lumber Co.Supreme Court of Arkansas · 1914
- Exchange National Bank v. ChaplineSupreme Court of Arkansas · 1913
- Hamburg Bank v. Ouachita Nat. Bank in MonroeCourt of Appeals for the Eighth Circuit · 1935
- Buena Vista Veneer Co. v. HodgesSupreme Court of Arkansas · 1915
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