Merchants National Bank v. Dunn Oil Mill Co.
Supreme Court of North Carolina
Appeal from Peebles, J., at April Term, 1911, of New HaN-OVKR. The facts are sufficiently stated in tbe opinion of tbe Court by Mr. Chief Justice Ciarle.
1Opinion of the CourtClaek, C. J.
Tbe Merchants and Farmers Bank of Dunn executed its note to tbe plaintiff bank for $10,000 borrowed *303money, and deposited as collateral security a note wbicb bad been executed to it for $10,000, signed “Dunn Oil Mills Company, by J. D. Barnes, President.” This note was indorsed to the plaintiff before maturity by the Merchants and Farmers Bank of Dunn' “by E. F. Young, President.” The said Merchants and Farmers Bank of Dunn failed, and this action was brought against the said oil mills on its said note. The defendant oil mills pleads that it received no consideration for the same and that its…
2Cases cited8 opinions
- People's Bank v. National BankSupreme Court of the United States · 1880
- Grabbs v. Farmers' Mutual Fire InsuranceSupreme Court of North Carolina · 1899
- Gwaltney v. Provident Savings Life Assurance SocietySupreme Court of North Carolina · 1903
- Norfolk Southern Railroad v. BarnesSupreme Court of North Carolina · 1889
- Bird v. DaggettMassachusetts Supreme Judicial Court · 1867
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3Cited by7 opinions
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- Lumber Co. v. . EliasSupreme Court of North Carolina · 1930
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