National Bank v. Taylor
South Dakota Supreme Court
Appeal from circuit court, Beadle county. Hon. A. W. Campbell, Judge. Action on a promissory note. There was judgment for plaintiff, and defendant appeals. The facts are stated in the opinion. The appellant was not guilty of laches or negligence in the discovery of the fraud; no presumption of negligence can be indulged by reason of the mere lapse of time between the purchase of the bank stock by the appellant and the time of the actual discovery of the fraud.
Read the full summary
Appeal from circuit court, Beadle county. Hon. A. W. Campbell, Judge. Action on a promissory note. There was judgment for plaintiff, and defendant appeals. The facts are stated in the opinion. The appellant was not guilty of laches or negligence in the discovery of the fraud; no presumption of negligence can be indulged by reason of the mere lapse of time between the purchase of the bank stock by the appellant and the time of the actual discovery of the fraud. Earl Beechamb v. Winn, L. R. 6, H. L. 223; Tazwell’s Exr. v. Saunders’ Exr., 13 Gratt354; Nelson v. Carrington, 4 Va. 332; Petroleum…
1Opinion of the CourtKellam, J.
This was an action by respondent upon notes made and given to it by appellant. The defense was: That the notes were given in partial payment of 90 shares of the capital stock of the respondent bank, sold by D. L. Stick, the president and general manager of the bank, to the appellant, Taylor. That such purchase of such stock was induced and accomplished by false and fraudulent representations by said Stick to appellant as to the condition of the bank and its business and assets, and the value of said stock. The representations thus generally referred to, their falsity, and the knowledge…
2Cases cited3 opinions
- Baker v. . LeverNew York Court of Appeals · 1876
- Bank of Woodland v. HiattCalifornia Supreme Court · 1881
- Duffield v. E. T. Barnum Wire & Iron WorksMichigan Supreme Court · 1887
3Cited by10 opinions
- Continental Insurance v. MercadanteAppellate Division of the Supreme Court of the State of New York · 1927
- Sabbagh v. Professional & Business Men's Life Ins. Co.South Dakota Supreme Court · 1962
- Davenport v. BuchananSouth Dakota Supreme Court · 1894
- Liland v. TwetoNorth Dakota Supreme Court · 1910
- Chase v. Redfield Creamery Co.South Dakota Supreme Court · 1900
5 more not listed; retrieve them via the Exa API.