Carpenter v. Bennett
Carpenter v. Bennett
Opinion of the Court
This is an action at law upon a certain promissory note executed and delivered by the defendant to Brandt C. Carpenter, at Chicago, Illinois, on or about May 8, 1919, payable six months after date, which note was indorsed in blank by Brandt C. Carpenter, and plaintiff alleges that he is a holder in due course. Judgment and verdict for defendant. Plaintiff appeals.
There are two main issues tendered for consideration in this case: First. What was the consideration for the note as between the original parties? Second. Was the plaintiff a holder in due course? Upon these issues will be determined the liability of the defendant.
The defendant was induced to sign and execute the note in question in order to become a branch agent of the National Honor Roll Company. Instead of making the note payable to the company, Brandt C. Carpenter was named as payee. The plaintiff is the father of Brandt C. Carpenter, the payee, and holds the note as indorsee.
The National Honor Roll Company was organized to collect photographs and information of the men in the military service during the late war, publish a book for each county containing such material, and distribute the same through its branch managers for the price of $12.50, of which $2.50 was to be a commission by the provisions of the contract between the company and the branch manager. The latter was to purchase at the time of the contract 100 books at the price of $10 each, which amount was to be paid in cash. An examination of the record, which sets forth the facts in this regard, discloses that the National Honor Roll Company rendered no consideration for this note.
The defendant called at the offices of the National Honor Roll Company, and there met the secretary of the company, who introduced him to one Brandt C. Car
Other issues have been discussed by counsel for plaintiff, to- which we have not referred. We did not discuss them for the reason that it did not appear there was any consideration for the note, and for the further reason that the evidence and circumstances did not show the plaintiff to be a holder in due course. The parties had the benefit of a trial by jury on these matters and they were determined in defendant’s favor. We have examined the record and instructions given by the court and find
Affirmed.
Reference
- Full Case Name
- Levi Foy Carpenter v. Frank Bennett
- Status
- Published