Allen v. Hook
Michigan Supreme Court
Error to Wayne; Van Zile, J. Assumpsit in justice’s court by William S. Allen against Frank E. Hook on a promissory note. There was judgment for plaintiff, and defendant appealed to the circuit court. Judgment for plaintiff on a directed verdict. Defendant brings error.
1Opinion of the CourtFellows, J.
Plaintiff sued defendant upon a promissory note for $150, dated February 13, 1909, due in 60 days thereafter. As collateral thereto a certificate for 150 shares of the stock of the International Machine Company was indorsed in blank and delivered to plaintiff at the time the money was loaned. Under the general issue defendant gave the following notice:(1) That it was the understanding between the parties at the time of the giving of the note and security that if the note was not paid plaintiff would sell the stock or would hold the same as and for payment of the note.(2) That defendant was…
2Cases cited3 opinions
- Feige v. BurtMichigan Supreme Court · 1898
- Rice v. BenedictMichigan Supreme Court · 1869
- Smith v. NixonMichigan Supreme Court · 1906
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