National Bank of Commerce v. Francis

The petition of the plaintiff, a national bank, to recover a money judgment against the defendants, is in three counts. First, it seeks to hold defendants as partners. Second, to set aside the transaction under which the money was paid out by the plaintiff, as ultra vires the plaintiff, as a national bank, and to recover same from defendants under an implied contract to re-pay said money. Third, to hold defendants liable as for money had and received.

The three counts are based upon the same transaction, to-wit, the purchase by the plaintiff on October 1, 1906, of 525 notes (so called) of the…