Gidden Motor Co. v. Johnston

The state banking department, as liquidator of the Delta Bank & Trust Company, issued, on March 15,1921, to Mrs. E. B. Johnston, appellee here, a certificate of guaranteed claim against the assets of said bank in the sum of three thousand two hundred forty dollars and thirty-three cents'. Sometime during the year 1923 Mrs. Johnston indorsed the said certificate, indorsing her name on the same in the manner in which indorsements are usually made on commercial paper, and without qualification or restriction, and delivered the same to one Smith. The actual purpose and understanding' between'…