Nicholson v. National Bank
Court of Appeals of Kentucky
Case 48 — PETITION OKDINAPY— APPEAR PROM HENRY CIRCUIT COURT. A national bank can acquire title to a note or bill only by the act of discounting it, and the court should have given the instructions asked by appellants drawing the distinction between a discounting and & purchase. (First Nat. Bank of Rochester v. Pierson Thompson’s National Bank Cases, 637; Weckler v. First Nat. Bank of Hagerstown, 14 Am. Law Reg., 610; Rev. Stats., U. S., sec. 5136; Fowler v. Scully, 72 Pa.
Read the full summary
Case 48 — PETITION OKDINAPY— APPEAR PROM HENRY CIRCUIT COURT. A national bank can acquire title to a note or bill only by the act of discounting it, and the court should have given the instructions asked by appellants drawing the distinction between a discounting and & purchase. (First Nat. Bank of Rochester v. Pierson Thompson’s National Bank Cases, 637; Weckler v. First Nat. Bank of Hagerstown, 14 Am. Law Reg., 610; Rev. Stats., U. S., sec. 5136; Fowler v. Scully, 72 Pa. St.) The distinction attempted to be drawn between purchase and discount is hypercritical. “Discount is the difference…
1Opinion of the Court
JUDGE BENNETT
delivered the opinion of the court.
The appellee, as its name indicates, is a bank doing business in the State under and by the authority of the Banking Act of the Congress of the United States, and *253as such bank it purchased the following no'te before it was due-:
«$260. March-30, 1887.
“ Nine months after date we promised to pay to the order of B. E. Smith two hundred and sixty dollars at ■Q-erman Insurance Bank, Louisville, Ky.
“Value received. J. W. Ridgway,
“ J. B. Nicholson.”
This note, on the 26th day of December, 1887, four clays before its maturity, was, as is alleged, “…
2Cases cited1 opinion
- Triplett v. HollyCourt of Appeals of Kentucky · 1823
3Cited by1 opinion
- Dunevant v. Radford's Admr.Court of Appeals of Kentucky · 1910