Skordal v. Stanton
Supreme Court of Minnesota
In June, 1899, plaintiff and two others, being directors of Citizens’ Bank of Appleton, made and delivered their promissory note to the bank to cover the amount of its impaired capital at that time. Thereafter, the bank having become insolvent, defendant as its-receiver brought an action upon said note and recovered judgment against the makers thereof.
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In June, 1899, plaintiff and two others, being directors of Citizens’ Bank of Appleton, made and delivered their promissory note to the bank to cover the amount of its impaired capital at that time. Thereafter, the bank having become insolvent, defendant as its-receiver brought an action upon said note and recovered judgment against the makers thereof. Plaintiff having paid the judgment filed his petition in the district court for Swift county for leave to-file his claim against the bank for the amount so paid by him. From an order, Powers, J., denying the petition and discharging an order to…
1Opinion of the CourtCollins, J.
The true relation of the appellant, Hans A. Skordal, to the note in question, and to the payee, was submitted and fully and finally determined in the action brought against him by the receiver of the insolvent payee. The court then found that there was a valid consideration for the note, and, as between the creditors of-the payee bank, represented by the receiver, and Skordal, the latter could not be heard to allege to the contrary, and that he was simply an accommodation maker. In the proceedings at bar, arising out of his petition to be allowed to share in dividends in the hands of the…
2Cases cited2 opinions
- Hurd v. . KellyNew York Court of Appeals · 1879
- Best v. . ThielNew York Court of Appeals · 1879
3Cited by8 opinions
- Prudential Trust Co. v. MooreMassachusetts Supreme Judicial Court · 1923
- Federal Reserve Bank v. CrothersCourt of Appeals for the Fourth Circuit · 1923
- Garbush v. Order of United Commercial Travelers of AmericaSupreme Court of Minnesota · 1929
- Stern v. McDonaldCalifornia Court of Appeal · 1920
- Conrey v. SeligmanSouth Dakota Supreme Court · 1924
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