Holm v. Atlas Nat. Bank
Court of Appeals for the Seventh Circuit
In Error to the Circuit Court of the United States for the Western District of Wisconsin. The Atlas National Bank, the defendant in error, brought suit in the court below to recover of the plaintiffs in error the amount of a promissory note dated February 38, 1893, for $4,000, payable to the order of the John Y. Far-well Company, six months after date, at the Bank of Eau Claire, in the city of Eau Claire, Wis., executed by them under their co-partnership name of Neis Holm &…
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In Error to the Circuit Court of the United States for the Western District of Wisconsin. The Atlas National Bank, the defendant in error, brought suit in the court below to recover of the plaintiffs in error the amount of a promissory note dated February 38, 1893, for $4,000, payable to the order of the John Y. Far-well Company, six months after date, at the Bank of Eau Claire, in the city of Eau Claire, Wis., executed by them under their co-partnership name of Neis Holm & Co., and signed also by the firm of Holm & Thompson. The defenses alleged and which were the subject of contention were…
1Opinion of the CourtJenkins, Circuit Judge
We held when this case was previously before us that the note in suit was invalid, except in the hands of an innocent purchaser. It was therefore incumbent upon the Atlas National Bank to establish that it was a bona fide holder of the note for value, before maturity. We are of opinion that this is shown beyond peradventure. The note was one of 40 or 50 pieces of commercial paper, amounting in the aggregate to over $50,000, which were discounted by the bank for the John Y. Farwell Company, on April 7, 1893, in the usual course of its business, and without notice of its illegality. The amount…
2Cases cited1 opinion
- Germania Bank of New York v. La FolletteU.S. Circuit Court for the District of Southern New York · 1895
3Cited by3 opinions
- Aycock Bros. Lumber Co. v. First National BankSupreme Court of Florida · 1907
- In re Hopper-Morgan Co.District Court, N.D. New York · 1907
- Shanks v. First State Bank of CoahomaCourt of Appeals of Texas · 1934