First Nat. Bank of Arkansas City v. Leech
Court of Appeals for the Eighth Circuit
In Error to the Circuit Court of the United States for the District of Kansas. This is an action to recover the amounts due defendant in error from the plaintiff in error on two certificates of deposit.
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In Error to the Circuit Court of the United States for the District of Kansas. This is an action to recover the amounts due defendant in error from the plaintiff in error on two certificates of deposit. The defenses are that the hank having been placed in the hands of a receiver, plaintiff agreed with the hank, in writing, to accept in payment of his claims 10 per cent, in money; and certificates of deposit for the balance, payable in 10 installments, at intervals of three months, at 4 per cent, per annum; that afterwards, it having been ascertained that the bank would bo unable to carry out…
1Opinion of the Court
CALDWELL, Circuit Judge.
The agreements set up in the answer amount to nothing more than an executory contract for an accord. There are no allegations showing a satisfaction. It is a well-settled rale of law that accord without satisfaction is not a good answer. An agreement or accord which is to operate as a satisfaction of an existing liability must, before it can have that effect, be fully executed. It is not enough that there be a clear agreement or accord and a sufficient consideration; but the agreement or accord must bo executed before it can be pleaded as an accord and satisfaction. If…
2Cases cited8 opinions
- City of Memphis v. BrownSupreme Court of the United States · 1874
- Russell v. LytleNew York Supreme Court · 1831
- Hawley v. FooteNew York Supreme Court · 1838
- Tilton v. AlcottNew York Supreme Court · 1853
- Clifton v. LitchfieldMassachusetts Supreme Judicial Court · 1870
3 more not listed; retrieve them via the Exa API.
3Cited by9 opinions
- Shubert v. RosenbergerCourt of Appeals for the Eighth Circuit · 1913
- Fricke v. ForbesMichigan Supreme Court · 1940
- Hinkle v. Basic Chemical CorporationSupreme Court of Colorado · 1967
- Stanly v. BuserSupreme Court of Kansas · 1919
- Sherman v. RokaczAppellate Court of Illinois · 1989
4 more not listed; retrieve them via the Exa API.