Nimmo v. Supernaw

In this suit tried without a jury, plaintiff seeks recovery on a promissory note signed by defendants Supernaw and indorsed by defendant Mackey. The' former made no defense, and as to defendant Mackey the circuit judge rendered a judgment of no cause for action. Prom this judgment plaintiff has appealed.

Plaintiff is the receiver of the Peoples State Savings Bank of East Jordan, a Michigan banking corporation. Both Mr. Supernaw and Mr. Mackey were stockholders in the bank and the latter was a director. In 1928, Supernaw desired to secure a loan of $6,000 with which to purchase Florida real…