Havens v. Bank of Tarboro
Supreme Court of North Carolina
ActioN by Lucy E. Havens against the Bank of Tarboro and others, heard by Judge Francis D. Winston at October Term, 1902, of the Superior Court of Edgecombe County.
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ActioN by Lucy E. Havens against the Bank of Tarboro and others, heard by Judge Francis D. Winston at October Term, 1902, of the Superior Court of Edgecombe County. This action was brought by the plaintiff to recover the value of a certificate for thirteen shares of stock which she alleged was issued by the defendant to James G. Mehegan, and which she received from him as collateral security for a loan of $500. The case was tried in the court below upon certain facts which were agreed upon by counsel of the parties and submitted h> the court for its. decision, the said facts being as follows:…
1Opinion of the Court
Walker, J.,
(after stating the case) : It appears in this case that the bank was fully authorized by its charter to issue the certificate of stock in question and that, so far as the face of the certificate shows, it was issued in accordance with the provisions of the charter and the by-laws and regulations. The plaintiff loaned the money in the faith and confidence that the certificate of stock which bad all the appearances of being genuine would constitute a valid and unimpeachable security in her bands for the money bor rowed by Mehegan, and we think that, upon well established principles,…
2Cases cited13 opinions
- McNeil v. . the Tenth National BankNew York Court of Appeals · 1871
- New York & New Haven Railroad v. SchuylerNew York Court of Appeals · 1865
- Holbrook v. . New Jersey Zinc Co.New York Court of Appeals · 1874
- Moores v. Citizens' Nat. Bank of PiquaSupreme Court of the United States · 1884
- Loring v. Salisbury MillsMassachusetts Supreme Judicial Court · 1878
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3Cited by26 opinions
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- Jones v. WaldroupSupreme Court of North Carolina · 1940
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- Virginia-Carolina Joint Stock Land Bank v. LilesSupreme Court of North Carolina · 1929
- Grissom v. SternbergerCourt of Appeals for the Fourth Circuit · 1926
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