Smith v. Dowling
Missouri Court of Appeals
Appeal from the St. Louis City Circuit Court. — Hon. Pembrooh B. Flitcraft Judge. ' (1) The contention of the appellant is that Dow-ling, being a member of the board of directors of the, association and having been present at the meeting which adopted the resolution instructing the secretary to prepare a note for $500 as a loan, and having thereafter executed his note for $500 pledging his stock as collateral security, is estopped from denying the validity of that loan and…
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Appeal from the St. Louis City Circuit Court. — Hon. Pembrooh B. Flitcraft Judge. ' (1) The contention of the appellant is that Dow-ling, being a member of the board of directors of the, association and having been present at the meeting which adopted the resolution instructing the secretary to prepare a note for $500 as a loan, and having thereafter executed his note for $500 pledging his stock as collateral security, is estopped from denying the validity of that loan and note or that he was ignorant of its nature. Hensinger v. Dyer, 147 Mo. 219, 228, 229. (2) “Being under a duty of knowing…
1Opinion of the CourtBland, P. J.
— Ford Smith, receiver of Active Building and Loan Association No. 2, sued defendant on the following promissory note, to-wit:
“St. Louis, October 9, 1895.
$500.
Three months after date I promise to pay to the Active Building and Loan Association No. 2, five hundred dollars, value received, negotiable and payable without defalcation or discount, with interest at the rate of six per cent per annum from date. Payable at 1001 Chestnut, having deposited and *517pledged my fifteen shares of stock of said company as collateral security. This note is non-negotiable.
“James S. Dowling.”
Plaintiff alleged the…
2Cases cited3 opinions
- Three States Lumber Co. v. RogersSupreme Court of Missouri · 1898
- Craighead v. WellsSupreme Court of Missouri · 1855
- Lee v. LeeSupreme Court of Missouri · 1854
3Cited by1 opinion
- J. G. Hutchinson & Co. v. Morris Bros.Missouri Court of Appeals · 1908