First National Bank v. Morgan

Rehearing denied April 8, 1930

On Petition eor Rehearing

(286 P. 558)

RAND, J.

Plaintiff claims that this court erred in holding that the following provision contained in the note, to wit: ‘ ‘ said units of stock are not to be issued or delivered until this note is paid in full; and then the said unit shares of stock are to be issued and delivered,” were dependent promises, and also in holding that the bank, in the absence of performance upon its part, could not maintain this action without first alleging and offering to prove that it was able and had offered to deliver the stock to defendants.…