Merchants & Farmers Cotton Oil Co. v. Lufkin National Bank

This suit was brought by the Lufkin National Bank to recover of the Merchants and Farmers Cotton Oil Company, a corporation, an indebtedness of $5000 alleged to have been evidenced by a promissory note for that amount which was made the basis of the suit and which purported to have been executed for the corporation by its general manager and attested by its secretary with the seal of the corporation affixed.

The defendant oil company answered by plea of non est factum. That the general manager, Pearson, whose name was signed to the note had no authority to execute notes for the company, and…