Keiner v. Commerce Trust Co.

On or about November 13th, 1926, the Cardwell-Fisher Fixture Company, a Maryland corporation, engaged in manufacturing, owed the Commerce Trust Company $12,000 on a note which had matured on November 3rd, 1926, and had been protested, $5,000 on an overdue demand note, $69.93 on an overdraft, and $413.20 balance on a note for $2,500. It was without cash assets, and it needed about $1,680 for its payroll. On that day Thomas L. Cardwell, president of the corporation, approached Walter B. Bahn, vice-president of the trust company, who represented it in the transaction herein referred to, and…