Farmers & Merchants State Bank v. Shaffer

The defendant asserts that the note in suit was' obtained from him by the fraudulent representations of the agent of payee, and that the plaintiff was not an innocent holder of said instrument. The note was given for shares, of stock in a 'corporation known as the Stotts Signal Company, and made payable to E. S. Stotts, who was the promoter, organizer and principal manager of such company, and the alleged false representations are said to have been made by one Dodge, who .negotiated the sale in behalf of Stotts, or of the *175company. These include representations to the effect that the company…