Traders' Securities Company v. Oney

Opinion of.the Court by

Commissioner Stanley

Reversing.

On January 24, 1925, the appellee, Creed Oney, Jr., signed five trade acceptances in favor of the Arch Manufacturing Company, of St. Louis, for the aggregate sum of $298. These were drawn in connection with an order for a lot of jewelery sold to the appellee under a contract exactly like that copied in the opinion of Traders’ Securities Co. v. J. E. Oslin & Son, 227 Ky. 828, 12 S. W. (2d)--. The first acceptance was payable three months after date, and each of the others matured three months apart thereafter.

Three days before the maturity…