Walley v. Deseret National Bank
Utah Supreme Court
Appeal from the Third District Court, Salt Lake county. Hon. John A. Street, Judge. Action by T. A. Walley against the Deseret National Bank for the conversion of two promissory notes deposited as colatteral security for a loan. From a judgment for plaintiff, defendant appeals. Tbe mere payment of interest in advance is not of itself sufficient to extend the time of the payment of the principal of the note.
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Appeal from the Third District Court, Salt Lake county. Hon. John A. Street, Judge. Action by T. A. Walley against the Deseret National Bank for the conversion of two promissory notes deposited as colatteral security for a loan. From a judgment for plaintiff, defendant appeals. Tbe mere payment of interest in advance is not of itself sufficient to extend the time of the payment of the principal of the note. Oxford, Bcmlc v. Lems, 8 Pick. 457; Blackstone Banlc v. Bill, 10 Pick. 129; Bank v. Weller, 17 Pick. 150; Bow v. Tuttle, 4 Mass. 414; 3 Eandolph Com. Paper, secs. 958, 961, 963; 10 Pet.…
1Opinion of the Court
MINER, J.:
On tbe 18tb day of December, 1893, plaintiff filed his complaint for tbe alleged conversion by tbe defendant of two certain promissory notes, made by John Beck, one for $5,000, and one for $1,000, both dated April 1, 1892, payable April 1,1893, and alleged that on tbe 16th day of December, 1893, be was tbe owner of said notes, and on that day defendant unlawfully disposed of and converted tbe same to its own use. Tbe defendant answered, denying plaintiff’s ownership of tbe notes, or its conversion of *310the same, and alleged tliat on September 6,1892, plaintiff gave Ms note to…
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