Capital National Bank v. Hutchinson

ORDER ON MOTION FOR JUDGMENT N.O.Y.

LAWRENCE, Chief Judge.

The evidence in this case unfolds a tale of fraud, careless business practices and misplaced trust. In 1964 J. A. Hutchinson, Jr., sold a motel to Pitt Motel Corporation and accepted six notes as part of the purchase price, four in the amount of $10,000 and two in the amount of $5,000. The notes were endorsed by Intercontinental Motels, Ltd., owner of the stock of Pitt Motel, and by two principals in the former. After receiving the notes, Hutchinson endorsed same in blank and turned five of them over to a member of the Intercontinental…