First National Bank v. Home Insurance
New Mexico Supreme Court
Appeal from tbe District Court for Eddy County, before William II: Pope, Chief Justice. Appellant was not liable on written instrument on which his signature does not appear. Laws 1907, chap. S3, sec. 18; Luna v. Mohr, 3 N. M. 63; Webster v. Wray, Neb., 26 Am. Rep. 754; 1 Daniel Neg. Inst., 4 ed., sec. 409. Special agent, who executed written instrument, had but limited authority and instrument was without consideration.
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Appeal from tbe District Court for Eddy County, before William II: Pope, Chief Justice. Appellant was not liable on written instrument on which his signature does not appear. Laws 1907, chap. S3, sec. 18; Luna v. Mohr, 3 N. M. 63; Webster v. Wray, Neb., 26 Am. Rep. 754; 1 Daniel Neg. Inst., 4 ed., sec. 409. Special agent, who executed written instrument, had but limited authority and instrument was without consideration. Bank of Commerce v. Baird Mining Co., 13 N. M. 424; Baum v. Palmer, Ind., 76 N. E. 108. Instrument had never been accepted by appellant. Laws 1907, chap. 83, sec. 127; Bank…
1Opinion of the Court
OPINION.
MECHEM, J
2 1 This court adopts the opinion delivered by the judge of the lower court in overruling the demurrer, which is as follows, to-wit: “The demurrer to ibe complaint is overruled. While under the provisions of the Negotiable Instrument Act an acceptance is necessary to bind the drawee on a draft, where the drawer and drawee are the same persons, it is expressly provided by Sec. 130 of that act that a draft may be treated as a promissory note, and thus requiring no acceptance. The same principle of law. is stated generally in 7 Cyc. 759. The allegations of the complaint of the…
2Cases cited1 opinion
- Gray Tie & Lumber Co. v. Farmers' BankCourt of Appeals of Kentucky · 1901
3Cited by10 opinions
- Watauga County Bank v. McQueenTennessee Supreme Court · 1914
- Julian Petroleum Corp. v. EggerCourt of Appeals of Texas · 1928
- Bailey v. Triplett Bros.Court of Appeals of Texas · 1926
- May v. WaltersNew Mexico Supreme Court · 1960
- Flores v. BacaNew Mexico Supreme Court · 1919
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