McClintock v. Central Bank
Supreme Court of Missouri
Appeal from Jackson Circuit Court. — Hon. J. H. Sloven, Judge. (1) The admitted allegation of plaintiff’s petition shows the incorporation of defendant bank under the laws of the state, with a capital stock of $50,000; defendant’s amended answer shows an illegal loan, to wit, $13,062.81, for which the stock was pledged as collateral. B. S. 1889, chap. 42, art. 7, sec. 2758. (2) Illegal acts can not be made the subject-matter of a defense to an action at law.
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Appeal from Jackson Circuit Court. — Hon. J. H. Sloven, Judge. (1) The admitted allegation of plaintiff’s petition shows the incorporation of defendant bank under the laws of the state, with a capital stock of $50,000; defendant’s amended answer shows an illegal loan, to wit, $13,062.81, for which the stock was pledged as collateral. B. S. 1889, chap. 42, art. 7, sec. 2758. (2) Illegal acts can not be made the subject-matter of a defense to an action at law. Tracy v. Talmage, 14 N. Y. 162; Crocker v. Whiting, 71 N. Y. 161; " Pratt v. Eaton, 18 Hun (N. Y.), 293; Smith v. Company, 4 Ala. 558;…
1Opinion of the CourtBabclay, J.
The case amounts to this. Plaintiff sues the defendant bank for conversion of fifty shares of its capital stock, of the par value of $5,000, which he claims to own. His title rests upon a purchase of it for the price of ten dollars, under an execution against Mr. Cowling, in whose name the stock originally stood on the books of the bank.
The execution sale to plaintiff was based on a levy upon the stock, September 6, 1888, as the property of Cowling, at which time the cashier of the bank furnished to the levying officer a certificate to the effect that the judgment debtor owned fifty shares of…
2Cases cited4 opinions
- Talty v. Freedman's Savings & Trust Co.Supreme Court of the United States · 1876
- Cowen v. St. Louis & Iron Mountain RailroadSupreme Court of Missouri · 1871
- Vineyard v. MatneySupreme Court of Missouri · 1878
- Warner v. MorinSupreme Court of Missouri · 1850
3Cited by12 opinions
- Labor Discount Center, Inc. v. State Bank & Trust Co. of WellstonMissouri Court of Appeals · 1975
- Russell v. Empire Storage & Ice Co.Supreme Court of Missouri · 1933
- Kegan v. Park BankSupreme Court of Missouri · 1928
- Amick v. Empire Trust Co.Supreme Court of Missouri · 1927
- Adair v. Reorganization Inv. Co.Court of Appeals for the Eighth Circuit · 1942
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