Gross, Kelly & Co. v. Bibo
New Mexico Supreme Court
Appeal from District Court, Bernalillo County; Merritt C. Mechem, Presiding Judge. Law presumes that promissory notes, such as those in-suit, rest upon a valid consideration, and in absence of legal evidence sufficient to overcome that presumption, plaintiff was entitled to a directed verdict. 2 Story on Prom. Notes, 7th Ed., Sec. 181; 60 Mass. 364; 2 Best on Ev., Morgan’s Notes, Sec. 429; 2 Greenleaf Ev. Secs. 171-2;-Secs. 24, 28, Stats.
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Appeal from District Court, Bernalillo County; Merritt C. Mechem, Presiding Judge. Law presumes that promissory notes, such as those in-suit, rest upon a valid consideration, and in absence of legal evidence sufficient to overcome that presumption, plaintiff was entitled to a directed verdict. 2 Story on Prom. Notes, 7th Ed., Sec. 181; 60 Mass. 364; 2 Best on Ev., Morgan’s Notes, Sec. 429; 2 Greenleaf Ev. Secs. 171-2;-Secs. 24, 28, Stats. N. M.; L. 1907, Chap. 83, p. 169; 127' Pae. 1019; 156 TT. S. 432; 8 Cyc. 225; 97 Mass. 97; 3 So.. 422. Evidence offered on behalf of defendants not only…
1Opinion of the Court
OPINION.
ROBERTS, C. J.
There are three principal and controlling questions presented for determination in this case, which may be stated as follows:(1) Does a secret preference given to one of the creditors signing a composition agreement in order to induce him to assent to the same, render the composition agreement, as to the innocent creditors who sign the same, void, or only voidable ?(2) It is essential that the minds of the payor and payee of a promissory note meet and agree upon the consideration for which the same is given ?(3) Is a naked agreement by one party, not to engage in…
2Cases cited32 opinions
- Standard Oil Company of New Jersey, Appts. v. United StatesSupreme Court of the United States · 1910
- Nash v. United StatesSupreme Court of the United States · 1913
- United States v. Addyston Pipe & Steel Co.Court of Appeals for the Sixth Circuit · 1898
- United States v. American Tobacco Co.Supreme Court of the United States · 1911
- United States v. E. C. Knight Co.Supreme Court of the United States · 1895
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3Cited by15 opinions
- Hedrick v. PerryCourt of Appeals for the Tenth Circuit · 1939
- Jenkins v. HuntsingerNew Mexico Supreme Court · 1942
- Nichols v. AndersonNew Mexico Supreme Court · 1939
- State Ex Rel. State Tax Commission v. GarciaNew Mexico Supreme Court · 1967
- Adams v. ThompsonNew Mexico Court of Appeals · 1974
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