Stock Yards National Bank v. Neugebauer

The judgment under review is one in an action on a promissory note of which the Stock Yards National Bank of South Omaha, plaintiff below and plaintiff in error here, was the legal holder by indorsement of C. R. Johnson, the payee. The maker, Neugebauer, defendant in error here, paid Johnson the amount due on the note. The main question before us is whether this payment constituted payment of the note and so discharged it.

1. When payment is made to the payee after transfer of a promissory note, and the maker does not exact delivery of the note itself, the maker’s liability, according to the…