Farmers & Merchants Bank v. Loyd
Missouri Court of Appeals
Appeal from Wayne Circuit Court. — Sun. F. B. Fearing, Judge. (1) Can the bank, by denying that it was the agent of the Phoenix Loan Association, avoid the payment to Durham of the full amount it agreed to pay him for his stock certificate ? Concede that' Shields was the loan association’s agent and not the bank, and how can that affect the bank’s liability to Durham ? Was not the payment of the monthly dues by Durham to the loan association’s agent, payment to the…
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Appeal from Wayne Circuit Court. — Sun. F. B. Fearing, Judge. (1) Can the bank, by denying that it was the agent of the Phoenix Loan Association, avoid the payment to Durham of the full amount it agreed to pay him for his stock certificate ? Concede that' Shields was the loan association’s agent and not the bank, and how can that affect the bank’s liability to Durham ? Was not the payment of the monthly dues by Durham to the loan association’s agent, payment to the association % His stock was then worth the amount the bank agreed to pay, $131.65. The association would have its remedy against…
1Opinion of the CourtBland, P. J.
The suit is on the following promissory note:
“Piedmont, Mo., April 19, 1898.
“In accordance with the dates below set out, we or either of us promise to pay to the order of Joseph Daniels, for value received, the sum of $84.90, with interest on each installment from the time of its maturity at the rate of eight per cent, per annum, as follows:
On the fifteenth day of May, 1898 .............. $15.70
On the fifteenth day of June, 1898 .............. 15.80
On the fifteenth day of July, 1898 .............. 15.90
On the fifteenth day of August, 1898 ............ 16.00
On the fifteenth day of September,…
2Cases cited3 opinions
- Steam Stonecutter Co. v. MyersMissouri Court of Appeals · 1896
- Withers v. Lafayette County BankMissouri Court of Appeals · 1896
- Latimer v. Equitable Loan & Investment Ass'nMissouri Court of Appeals · 1899
3Cited by2 opinions
- Citizens Bank of Senath v. DouglassMissouri Court of Appeals · 1913
- Ronchetto v. State Bank of BevierMissouri Court of Appeals · 1932