Johnson v. Crook

The Commissioner of Banking contends that the Readstown Bank is neither liable to the plaintiff upon the *536note in suit as a note made for its accommodation or otherwise, nor liable to the individual defendants in the event of their paying the amount adjudged to be owing by them on the note, which they had signed as makers. The following material facts are established by the evidence without conflict : Prior to November, 1926, the bank had loaned $9,424 to one Henthorn, and, by reason of legislation enacted after that loan was made, it was in excess of the amount permissible in November, 1926.…