Legal Opinion
State Street Trust Co. v. Muskogee Electric Traction Co.
Court of Appeals for the Tenth Circuit
Decided June 15, 1953No. 4547PublishedCited by 6 opinions
1Opinion of the Court
MURRAH, Circuit Judge.
The sole question presented by this appeal is whether the intentional destruction of negotiable instruments by the holder, believing them to be valueless, works a cancellation and discharge of the debt evidenced thereby. The facts are not in dispute.
In October 1939, Florence K. Twombly was the owner of sixteen bonds of a series issued May 1, 1912, by the Muskogee Electric Traction Company. At that time the bonds had long since been i,n default of both principal and interest, and being advised by a representative of the State Street Trust Company that they were valueless,…
2Cases cited16 opinions
- Pepper v. LittonSupreme Court of the United States · 1939
- Prudence Realization Corp. v. GeistSupreme Court of the United States · 1942
- Estate of Philpott v. PhilpottSupreme Court of Iowa · 1915
- Larkin v. . HardenbrookNew York Court of Appeals · 1882
- Drake Lumber Co. v. SempleSupreme Court of Florida · 1930
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3Cited by6 opinions
- Charles R. Peterson, in No. 80-2662 v. Crown Financial Corporation, a Corporation, in No. 80-2663Court of Appeals for the Third Circuit · 1981
- Denver & R.G.W.R. Co. v. Goldman, Sachs & CoCourt of Appeals for the Tenth Circuit · 1954
- Peterson v. Crown Financial Corp.District Court, E.D. Pennsylvania · 1979
- Guardian Federal Savings & Loan Ass'n v. HarrisDistrict Court, District of Columbia · 1977
- Regulations of Project 500 Facilities, Pennsylvania Department of Justice1972
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