Howard v. Reiter

The opinion, of the court was delivered by

Dawson, J.:

This was an action on a trade acceptance executed by defendant in favor of an oil company which had promised to build a filling station in Beloit and had promised other advantages to defendant. These promises of the oil company were not kept, but the trade acceptance was negotiated before maturity to the Mitchell County State Bank. When the trade acceptance fell due, defendant declined to pay and this action followed. It chanced that after purchasing the instrument, the Mitchell County State Bank and another bank in the same town were…