First National Bank v. Briggs's Assignees
Supreme Court of Vermont
Appeal from the court of insolvency. Upon the report of a referee at the September Term, 1897, Rutland County, Ross, C. J., presiding, apro-forma judgment was rendered for the plaintiff, to which the defendant excepted. “There is no evidence that the $5,000 note was ever discounted by the bank or any money or other consideration paid for it.” Report.
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Appeal from the court of insolvency. Upon the report of a referee at the September Term, 1897, Rutland County, Ross, C. J., presiding, apro-forma judgment was rendered for the plaintiff, to which the defendant excepted. “There is no evidence that the $5,000 note was ever discounted by the bank or any money or other consideration paid for it.” Report. This being found, the following deductions are to be made: (a) The plaintiff paid no consideration, (b) The plaintiff acquired possession of the note from its cashier, after he became insolvent, in direct violation of the understanding with the…
1Opinion of the Court
Ross, C. J.(1) The first contention made on thereferee’s report relates to the liability of the insolvent’s estate on claims one and two. One is a note for $7,000 and two a note for $2,200, both payable to the plaintiff and signed jointly by the insolvent and his brother, Frank E. Briggs. The plaintiff discounted both notes and neither have ever been paid. At the time these notes were discounted Frank E. Briggs was the cashier and George a director of the plaintiff bank. There is nothing on the face of the notes to indicate the relation of the signers to each other. Both signers appear upon…
2Cases cited2 opinions
- First National Bank v. GiffordSupreme Court of Iowa · 1877
- Lyndon Mill Co. v. Lyndon Literary & Biblical InstitutionSupreme Court of Vermont · 1891
3Cited by3 opinions
- Aycock Bros. Lumber Co. v. First National BankSupreme Court of Florida · 1907
- State Savings Bank v. MontgomeryMichigan Supreme Court · 1901
- W. T. Rawleigh Co. v. PierceSupreme Court of Vermont · 1917