Union State Bank v. Benson
North Dakota Supreme Court
Appeal from District Court of Bamsey County, O. W. Buttz, J. It is not necessary for a bank in buying negotiable paper, that its officers make a personal examination of the affairs of people with whom it deals, to ascertain possible defenses, when there is nothing in the 'transaction of a suspicions nature, -or which would invite research. American Nat. Bank v. Lundy, 21 N. I). 167, 129 N. W. 99. This was not an instalment note.
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Appeal from District Court of Bamsey County, O. W. Buttz, J. It is not necessary for a bank in buying negotiable paper, that its officers make a personal examination of the affairs of people with whom it deals, to ascertain possible defenses, when there is nothing in the 'transaction of a suspicions nature, -or which would invite research. American Nat. Bank v. Lundy, 21 N. I). 167, 129 N. W. 99. This was not an instalment note. Marginal entries forming no part of the written promise do not constitute any part of the note. Fisk v. McNeal, 23 Neb. 726, 8 Am. St. Bep. 162, 37 N- W. 616; Dan.…
1Opinion of the Court
Birdzell, T.
This is an action to recover $70 and interest on a promissory note made by the defendant to the Sageng Threshing Machine Company, and by it transferred to the plaintiff. The judgment was entered in favor of the defendant upon a verdict of the jury, and the plaintiff appeals. The defense is that the note was given for-stock in a threshing machine company which turned out to be worthless, and that the plaintiff is not a holder in due course nor one who has-derived title from a holder in due course. The note is as follows:
On the back of the note is the following indorsement of…
2Cases cited1 opinion
- D. B. Fisk & Co. v. McNealNebraska Supreme Court · 1888
3Cited by4 opinions
- Nylander v. NylanderSupreme Court of Iowa · 1936
- In Re Estate of FeldmanIllinois Supreme Court · 1944
- Ferri v. SylviaSupreme Court of Rhode Island · 1965
- VanZele v. SmaltzAppellate Court of Illinois · 1943