Jackson v. Lancaster

B. L. Gaddis, Jr., being president of the Merchants’ Bank, lent to himself $12,500 of the funds of the bank, and gave to the bank his promissory note, payable on demand, and indorsed by John A. Gad-dis and J. R. Gamble. Afterwards the superintendent of banks — plaintiff’s predecessor in office — upon an examination of- the affairs of the bank, demanded that' the bank get additional security or call in the note. Gad-dis, president of the bank, informed Lancaster of the situation, telling him that the superintendent of banks .would be satisfied .with his signature, whereupon Lancaster indorsed…