First National Bank v. Fulton
Supreme Court of Iowa
Appeal from Wapello District Court. — Hon. F. M. Hunter, Judge. Action at law upon a promissory note. The payee of the note was T. H. Corrick, who transferred the same in due form to the plaintiff.
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Appeal from Wapello District Court. — Hon. F. M. Hunter, Judge. Action at law upon a promissory note. The payee of the note was T. H. Corrick, who transferred the same in due form to the plaintiff. The defendant set up the' following defenses: (1) That-the note was void because issued in violation of. the provisions of section 1641-b, Code Supplement; (2) that it was void for want of consideration and because the consideration had failed; (3) that it was obtained by false and fraudulent representation. It' was also averred that the plaintiff was not a holder in due course. At the close of the…
1Opinion of the CourtEvans, J.
The note in question bears date March 8, 1908, and is for $500. It is known in this record as Exhibit A. Another note for a like amount was executed by the defendant to the same payee at the same time, which is known in the record as Exhibit 1. These notes were executed in purported payment for ten shares of corporate stock to be issued in the corporation known as the Underwriters’ Agency Company. This company was a going concern, which had been originally capitalized at $15,000. The defendant had become a stockholder .therein about a year prior to the transaction considered herein. Previous…
2Cases cited1 opinion
- Meadows v. Hawkeye Ins.Supreme Court of Iowa · 1885
3Cited by18 opinions
- State Ex Rel. Weede v. Iowa Southern Utilities Co. of DelawareSupreme Court of Iowa · 1942
- Sherman v. SmithSupreme Court of Iowa · 1918
- Lex v. Selway Steel CorporationSupreme Court of Iowa · 1925
- Ramsay v. CrevlinCourt of Appeals for the Eighth Circuit · 1918
- Bankers Trust Co. v. RoodSupreme Court of Iowa · 1930
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