Stadler v. First National Bank
Montana Supreme Court
Appeal from District Cowrt, Lewis and Clarhe County/ H. C. Smithj Judge. Action by Louis Stadler and another against the First National Bank of Helena and another. From the judgment of the court below plaintiffs appeal; and from a part thereof the First National Bank of Butte, defendant, appeals. Statement of the case by the Justice delivering the opinion.
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Appeal from District Cowrt, Lewis and Clarhe County/ H. C. Smithj Judge. Action by Louis Stadler and another against the First National Bank of Helena and another. From the judgment of the court below plaintiffs appeal; and from a part thereof the First National Bank of Butte, defendant, appeals. Statement of the case by the Justice delivering the opinion. This was a suit to obtain a decree setting off certain deposits made by the plaintiffs in the First National Bank of Helena, hereinafter called the “Helena bank,” against the amount of a promissory note made by them as a firm to said bank,…
1Opinion of the CourtPigott, J.
1. The Butte bank acquired the §6,000 note of Stadler & Kaufman by indorsement, in the ordinary course of business, in good faith, for value, and before maturity; hence it is apparent that, if. the note be commercial paper, the Butte bank acquired an absolute title thereto, notwithstanding any defect in the title of the Helena bank (Civil Code, Secs. 4034, 4035); that is to say, the Butte bank took it free of, and discharged from, any defense, legal or equitable, which existed as between the makers and the payee, and therefore the Butte bank would be entitled to a judgment for the full amount…
2Cases cited49 opinions
- Scott v. ArmstrongSupreme Court of the United States · 1892
- Toof v. MartinSupreme Court of the United States · 1871
- Payne v. . GardinerNew York Court of Appeals · 1864
- Fera v. . WickhamNew York Court of Appeals · 1892
- Myers v. . DavisNew York Court of Appeals · 1860
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3Cited by36 opinions
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- Cornish v. WoolvertonMontana Supreme Court · 1905
- Ancient Order of Hibernians v. SparrowMontana Supreme Court · 1903
- Peacock Hotel, Inc. v. ShipmanSupreme Court of Florida · 1931
- O'Connell v. State Board of EqualizationMontana Supreme Court · 1933
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