Cedar Point State Bank v. Youtz

The basis of this claim is a promissory note for $2,000, executed on the 16th day of December, 1919, by the defendant’s intestate, L. D. Youtz, to the .Franklin Oil & Re fining Company of Des Moines, Iowa. During the early part of 1920, this note passed into the possession of the plaintiff. The answer of the defendant pleaded fraud and false representations in the procurement of the note. Plaintiff claimed to be a good-faith holder in- due course, having procured the same before maturity for value.

The plaintiff raises but two questions that deserve serious consideration, and both are raised…