National Bank of Commerce of Kansas City, Mo. v. Rockefeller
Court of Appeals for the Eighth Circuit
Appeal from the Circuit Court of the United States for the Western District of Missouri. Suit iti equity by Frank Rockefeller against the National Bank of Commerce of Kansas City, Mo., and others. Decree for complainant, and defendant bank appeals.
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Appeal from the Circuit Court of the United States for the Western District of Missouri. Suit iti equity by Frank Rockefeller against the National Bank of Commerce of Kansas City, Mo., and others. Decree for complainant, and defendant bank appeals. This was a suit in equity, brought by Frank Rockefeller against the National Bank of Commerce of Kansas1 City, to secure the cancellation and surrender of a certain promissory note, dated August 16, 1901, for $3i>.22i):(Ki (hereafter referred to as the ,$36,000 note), executed and delivered by him to the bank, and to secure the delivery to him of…
1Opinion of the CourtAdams, Circuit Judge
(after stating the facts as above). We think Rockefeller did not become liable for the $45,000 loan of January 9, 1901, by the terms of the guaranty afterwards signed by him. It is a rule of very general application that all guaranties are prospective and not retrospective in operation, unless the contrary appears by express words or by necessary implication. Brandt on Suretyship and Guaranty (3d Ed.) § 108; People v. Lee, 104 N. Y. 441, 449, 10 N. E. 884; Pritchett, Baugh & Co. v. Wilson, 39 Pa. 421. A most critical reading of the guaranty in question discloses no purpose, either express or…
2Cases cited14 opinions
- Jones v. Guaranty & Indemnity Co.Supreme Court of the United States · 1880
- Bast v. BankSupreme Court of the United States · 1879
- McLaughlin v. Bank of PotomacSupreme Court of the United States · 1849
- Union Selling Co. v. JonesCourt of Appeals for the Eighth Circuit · 1904
- Connecticut Fire Ins. v. BuchananCourt of Appeals for the Eighth Circuit · 1905
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3Cited by33 opinions
- Jenkins v. National Surety Co.Supreme Court of the United States · 1928
- Coca-Cola Bottling Co. v. Coca-Cola Co.District Court, D. Delaware · 1920
- Shaddix v. National Surety Co.Supreme Court of Alabama · 1930
- Trego WaKeeney State Bank v. MaierSupreme Court of Kansas · 1974
- Colonial Bank of Alabama v. CokerSupreme Court of Alabama · 1985
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