Rea v. McDonald
Supreme Court of Minnesota
Appeal by defendants from an order of the district court for Hennepin county, Belden, J., denying their motion for a new trial. The plaintiff, standing in the position of payee of this paper, has no right of recovery thereon. It is always permitted the maker of commercial paper, when sued thereon by the payee, to show himself an accommodation maker, or to show that the paper is without consideration, and this is a complete defense to the suit.
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Appeal by defendants from an order of the district court for Hennepin county, Belden, J., denying their motion for a new trial. The plaintiff, standing in the position of payee of this paper, has no right of recovery thereon. It is always permitted the maker of commercial paper, when sued thereon by the payee, to show himself an accommodation maker, or to show that the paper is without consideration, and this is a complete defense to the suit. Hill v. Buckminster, 5 Pick. 391; Copp v. Sawyer, 6 N. H. 386. The maker of a note may always set up a want of consideration when sued by the payee. 1…
1Opinion of the CourtCollins, J.
Plaintiff, as receiver of the Bank of New England, an insolvent banking corporation, brought this action upon a promissory note executed and delivered by defendants, of date April 12, 3S93, for the sum of $5,000, payable to the order of such bank four months after date. The note was given in renewal of one for the same amount of date December 12,1892, payable to the same party or order April 12, 1893. The facts were that one Blethen, president of the bank, was indebted to a New York bank in the sum of $5,000 upon a note which matured December 9, 1892, and, as collateral, had deposited 20…
2Cases cited4 opinions
- Tourtelot v. ReedSupreme Court of Minnesota · 1895
- Bang v. BrettSupreme Court of Minnesota · 1895
- South Boston Iron Co. v. BrownSupreme Judicial Court of Maine · 1873
- De Land v. Dixon National BankAppellate Court of Illinois · 1884
3Cited by14 opinions
- Overland Auto Co. v. WintersSupreme Court of Missouri · 1919
- State Banking Board v. JamesCourt of Appeals of Texas · 1924
- Conrad v. ClarkeSupreme Court of Minnesota · 1909
- Greenway v. William D. Orthwein Grain Co.Court of Appeals for the Eighth Circuit · 1898
- First National Bank v. LangSupreme Court of Minnesota · 1905
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