United States National Bank of New York v. McNair
Supreme Court of North Carolina
Tills was a civil actiox, tried before Brown, J., and a jury, at January Term, 1894, of the Superior Court of New Haxoveb.
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Tills was a civil actiox, tried before Brown, J., and a jury, at January Term, 1894, of the Superior Court of New Haxoveb. The plaintiff, the United States National Bank of New York, brought its action against the defendants to recover the sum of $5,000 due by the defendants to it on a promissory note which the defendants, McNair & Pearsall, under date of November 19, 1891, had executed to the First National Bank of Wilmington, N. Cl, for the sum of $5,000, and payable thirty days after its date, and which said note the said First National Bank of Wilmington liad indorsed to the plaintiff for…
1Opinion of the Court
Clark, J.:
As between the defendants and the First National Bank of Wilmington the deposit of $4,199.80' *342would have, been a good set-off in an action by said bank on the defendant’s note for $5,000. 1 Morse on Bank, section 338, and cases there cited. But it would not be a set-off to an action by the plaintiff if said note was assigned before niaturitj' for value and without notice. The' presumption is that it was. It is indeed conceded that the assignment was before maturity and without notice of any equity, but it is denied that the assignment was for value.
It is not controverted that the…
2Cases cited4 opinions
- Cromwell v. County of SacSupreme Court of the United States · 1878
- Boyden v. President of the BankSupreme Court of North Carolina · 1871
- Mann v. Second National BankSupreme Court of Kansas · 1883
- Ragsdale v. Meridian Land & Industrial Co.Mississippi Supreme Court · 1893
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- National Bank of Commerce v. MorganSupreme Court of Alabama · 1921
- Branham v. Drew Grocery Co.Mississippi Supreme Court · 1927
- Latham v. . SpraginsSupreme Court of North Carolina · 1913
- Standing Stone National Bank v. WalserSupreme Court of North Carolina · 1913
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