First National Bank of Montour v. Brown

This appeal involves but one proposition: Did the trial court correctly rule the case in sustaining plaintiff’s motion for a directed verdict? The proposition has to do with the bona fides of the plaintiff in the purchase of the note in suit. The execution of the note is admitted by the defendant. The answer denies that plaintiff is a holder in due course, and affirmatively alleges that the note was given in part payment for stock in the Iowa Texas Development Company, a corporation, which stock was of no value, and the consideration for the note had completely failed. Specific fraud is…