Sappington v. Aetna Loan Co.
Missouri Court of Appeals
Appeal from the Linn Circuit Court. — Hon. Harry Lander, Special Judge. (1) The note in question in this case is a negotiable instrument under our -statute. R. S. 1889, sec. 733. (2) A building and loan association organized under the laws of this state relating to such associations, may take negotiable paper, and may purchase, hold and force negotiable paper. Maloney v. B. & L. Ass’n, 57 Mo.
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Appeal from the Linn Circuit Court. — Hon. Harry Lander, Special Judge. (1) The note in question in this case is a negotiable instrument under our -statute. R. S. 1889, sec. 733. (2) A building and loan association organized under the laws of this state relating to such associations, may take negotiable paper, and may purchase, hold and force negotiable paper. Maloney v. B. & L. Ass’n, 57 Mo. App. 384-388; Skouten v. Wood, 57 Mo. 380; Skrainka v. Allen, 76 Mo. 384; 4 Am. and Eng. Ency. of Law [2 Ed.], p. 1018, title B. & L. Associations; Cooper v. Saving Ass’n, 100 Pa. St. 402; Societe…
1Opinion of the Court
ELLISON J.
STATEMENT. This is an action on the following promissory note given by plaintiffs to the payee, a building and loan association, and indorsed by such association for value before due to defendant which had no knowledge of any defects or equities therein except as may be implied by law:
“Linneüs, Mo., May 24th, 1893.
“Eight years after date, for value received, we promise to pay to the St. Louis Loan and Investment Co., or order, at its office in the city of St. Louis, the sum of Six Hundred Dollars, with interest at the rate of six per cent per annum. Interest payable in monthly…
Also in this document: Concurrence.
2Cases cited1 opinion
- Brown v. Lasalle ArcherMissouri Court of Appeals · 1895
3Cited by4 opinions
- Cover v. Mercantile Mutual Building & Loan Ass'nMissouri Court of Appeals · 1902
- Layton v. HoughMissouri Court of Appeals · 1912
- Russell v. CassidyMissouri Court of Appeals · 1907
- Sappington v. Aetna Loan Co.Missouri Court of Appeals · 1902