Ainsworth Savings Bank v. Colthurst
Supreme Court of Iowa
Appeal from Washington District Court. — Henry F. Wagner, Judge. Suit upon promissory notes bought by an indorsee thereof. The defendant pleaded many affirmative defenses, the chief of which was that the notes were obtained by fraudulent representations and were without consideration, and that they were negotiated in breach of faith. The plaintiff, by way of reply, pleaded an estoppel.
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Appeal from Washington District Court. — Henry F. Wagner, Judge. Suit upon promissory notes bought by an indorsee thereof. The defendant pleaded many affirmative defenses, the chief of which was that the notes were obtained by fraudulent representations and were without consideration, and that they were negotiated in breach of faith. The plaintiff, by way of reply, pleaded an estoppel. It also produced evidence which tended to show that it was a holder in due course without notice. There was a verdict for the defendant and judgment thereon. The plaintiff has appealed. —
1Opinion of the CourtEvans, J.
*3651. Bills and notes: holder-ship in due course: material circumstances. *364I. The notes in suit were for a total of $8,000. The consideration therefor was to be found in a written contract, executed concurrently therewith, whereby the maker pur*365ported to purchase California lands from the Daniel Hayes Company. The contract purported to sell subject to inspection by the buyer, and subject to his right to reject the land, if not satisfied therewith, and to demand back the consideration therefor. Inspection of the land was made by the maker within the time provided, and the land was rejected as not…
2Cases cited6 opinions
- Ashworth v. GrubbsSupreme Court of Iowa · 1877
- Smith v. KingSupreme Court of Iowa · 1893
- Brayley v. HedgesSupreme Court of Iowa · 1879
- Sankey v. TrumpSupreme Court of Iowa · 1872
- Douglass v. MathenySupreme Court of Iowa · 1872
1 more not listed; retrieve them via the Exa API.
3Cited by3 opinions
- Marty v. Champlin Refining Co.Supreme Court of Iowa · 1949
- Quaas v. QuaasSupreme Court of Iowa · 1958
- Seibel v. FisherSupreme Court of Iowa · 1931