Whittemore v. Obear
Supreme Court of Missouri
Jlppeal from St. Louis Circuit Court. I. The contract was joint, and all creditors are affected by the frauds of the others. The receipt of a cash bonus by some of the creditors was a fraud which avoided the whole agreement. (Donghty vs. Savage, 28 Conn., 146; 42 Mo., 403; 1 Sto.
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Jlppeal from St. Louis Circuit Court. I. The contract was joint, and all creditors are affected by the frauds of the others. The receipt of a cash bonus by some of the creditors was a fraud which avoided the whole agreement. (Donghty vs. Savage, 28 Conn., 146; 42 Mo., 403; 1 Sto. Eq., 10 Ed., 324, 378, 379.) Although plaintiffs themselves received no bonus, still the fraudulent conduct of other creditors in so doing, gave plaintiffs the power to rescind the whole agreement; a fortiori if plaintiffs could the indorser could. (Pendlebury vs. Walker, 4 Younge & Collin, 440; Sullivan vs. Collier…
1Opinion of the CourtNapton, Judge
This is an action by Whittemore & Co. upon a negotiable note signed by Chas. Beardslee Bros. & Co., and dated June 10,1870, for $888.31, payable twelve months after date, at the National Park Bank, New York, indorsed by Chas. Beardslee Bros. & Co., and E. G. Obear & Co., and protested for non-payment.
The defense against the note, by the defendants, Obear & Co., is substantially this : In the spring of 1870, the firm of Chas. Beardslee Bros. & Co. was in a tottering condition, and negotiation was set on foot with their creditors, to bring about a composition, and avoid bankruptcy. The New York…
2Cases cited3 opinions
- Smith v. County of ClarkSupreme Court of Missouri · 1873
- Ayres v. MilroySupreme Court of Missouri · 1873
- Quinn v. HardSupreme Court of Vermont · 1871
3Cited by1 opinion
- Leonard v. MarshallU.S. Circuit Court for the District of Western Missouri · 1897