Scheid v. Shields

Plaintiff recovered a judgment in this action on a promissory note. The defendant appeals principally upon the ground that the plaintiff could not recover because he never had the note in his possession.

The defendant and others borrowed money from a bank to finance a new corporation. They executed a promissory note. Later, this note was replaced by a new note signed solely by defendant. Subsequently, defendant severed his ties with the corporation. The note became delinquent. The bank charged the corporate bank account for the balance, marked the note paid, and sent the note to the defendant.…