Wormer & Sons v. Waterloo Agricultural Works
Supreme Court of Iowa
Ajopeal from Black Hawk District Court. Action to foreclose a mortgage. The plaintiffs claim to be the owners of a certain promissory note executed by the defendant, the Waterloo Agricultural Works, for three thousand dollars, and of a mortgage executed to secure the same upon certain real estate. The plaintiffs received the note as collateral security from one McCall, who was at the time secretary of the defendant company. McCall claimed to be the owner.
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Ajopeal from Black Hawk District Court. Action to foreclose a mortgage. The plaintiffs claim to be the owners of a certain promissory note executed by the defendant, the Waterloo Agricultural Works, for three thousand dollars, and of a mortgage executed to secure the same upon certain real estate. The plaintiffs received the note as collateral security from one McCall, who was at the time secretary of the defendant company. McCall claimed to be the owner. The company denies that the note was ever rightfully delivered to him, or to any other person. Other facts are stated in the opinion.…
1Opinion of the CourtAdams, J.
i. PKOMissoav Mee¿oito: coipoiation. The note was executed payable* to the order of one Edmund Miller. Negotiations had been had with him fry kfre defendant company, for the purpose of obtaining a loan of money from him. The note, ^ag Qne ^ noj;eg <jrawn f0r three thousand dollars each. At the time they were executed it was expected *263that Miller would take them. The negotiations with Miller, however, failed, and as the notes had been executed payable to his order he indorsed'them in these words: “Without recourse to me. Edmund Miller.” McCall then agreed with the treasurer of the company to…
2Cases cited2 opinions
- Claflin v. Farmers' & Citizens' Bank of Long IslandNew York Court of Appeals · 1862
- Central Bank of Brooklyn v. . HammettNew York Court of Appeals · 1872
3Cited by6 opinions
- Wormer & Son v. Waterloo Agricultural WorksSupreme Court of Iowa · 1882
- Cram Sons v. Central Tr. Co.Supreme Court of Iowa · 1927
- Zimbelman v. FinneganSupreme Court of Iowa · 1908
- Sullivan Savings Institution v. YoungSupreme Court of Iowa · 1880
- First Trust Joint Stock Land Bank v. CuthbertSupreme Court of Iowa · 1933
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