Millsaps v. Merchants' & Planters' Bank
Mississippi Supreme Court
From the circuit court of the first district of Hinds county. IIon. J. B. Chuisman, Judge. The case is stated in the opinion. 1. It was error to exclude the unsigned memorandum of liabilities. It was an admission that the debts were corporate liabilities.
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From the circuit court of the first district of Hinds county. IIon. J. B. Chuisman, Judge. The case is stated in the opinion. 1. It was error to exclude the unsigned memorandum of liabilities. It was an admission that the debts were corporate liabilities. Besides, it formed the basis of the negotiation. 2. The real inquiry was, what was the margin of value between the corporate assets and liabilities? Whether a debt was legally the debt of the corporation or not, if it was treated as such in the negotiation, it should be considered in determining the amount of the corporate liabilities. 3. It…
1Opinion of the Court
Mayes, Special J.,
delivered the opinion of the court.
This is an action on a promissory note for $2,916.67, executed by the appellant ‘to the order of Harry K. Johnson, and by said Johnson indorsed in blank, and transferred to the appellee before maturity. The note was given as part of a contract between the parties thereto, of date twentieth of September, 1890. That contract is set forth in full in the opinion of this court, rendered on the former appeal in this case, and reported in 69 Miss., 918.
Construing that contract, we held that, looking through the mere verbiage of the transaction to…
2Cases cited3 opinions
- Cocke v. BlackbournMississippi Supreme Court · 1880
- Hawkins v. NealMississippi Supreme Court · 1882
- Millsaps v. Merchants & Planters' BankMississippi Supreme Court · 1892
3Cited by2 opinions
- MacQueen v. Dollar Savings Bank Co.Ohio Supreme Court · 1938
- Universal Credit Co. v. ThomasMississippi Supreme Court · 1934