Adams County Bank v. Hainline
Missouri Court of Appeals
Appeal from the JDeKalb Circuit Court. — Hon. W. S. Herndon, Judge. (1) Although it is settled law that a mere failure or lack of consideration is no defense to a negotiable promissory note unless the maker brings knowledge of the facts that impeached it home to the holder (1 Daniel,Neg.
Read the full summary
Appeal from the JDeKalb Circuit Court. — Hon. W. S. Herndon, Judge. (1) Although it is settled law that a mere failure or lack of consideration is no defense to a negotiable promissory note unless the maker brings knowledge of the facts that impeached it home to the holder (1 Daniel,Neg. Instr. [3 Ed.], sec. 814 a; Bennett v, Torlina, 56 Mo. 309; Meyers v. Robinson, 93 Mo. 114), yet it is equally well settled that when the maker of such paper proves that it had its inception in fraud, or when the proof raises a strong presumption of fraud, it is incumbent upon the holder, before he can…
1Opinion of the CourtEllison, J.
This is an action on a negotiable promissory note for $1,000. The plaintiff is indorsee of the note. At the close of the evidence the court directed a verdict for the plaintiff for the amount of the note. The defense was failure of consideration and that the note was obtained through the fraud and false representations of the payees as to the qualities of the stallion which the payees sold to defendants, said stallion being the consideration of the note. On the trial the plaintiff introduced the note, duly indorsed. Defendants introduced testimony showing the note had its inception in the…
2Cases cited13 opinions
- Commissioners of Marion County v. ClarkSupreme Court of the United States · 1877
- Hendrick v. LindsaySupreme Court of the United States · 1876
- Morgan v. DurfeeSupreme Court of Missouri · 1879
- Powell v. Missouri Pacific Railway Co.Supreme Court of Missouri · 1882
- Wolff v. CampbellSupreme Court of Missouri · 1892
8 more not listed; retrieve them via the Exa API.
3Cited by19 opinions
- Downs v. HortonSupreme Court of Missouri · 1921
- Richey v. Woodmen of the WorldMissouri Court of Appeals · 1912
- Mosby v. McKee, Zook & Whiteford Commission Co.Missouri Court of Appeals · 1902
- Howard v. HurstMissouri Court of Appeals · 1911
- Reeves v. LettsMissouri Court of Appeals · 1910
14 more not listed; retrieve them via the Exa API.