Reichner v. Trust Co. of North America
Reichner v. Trust Co. of North America
Opinion of the Court
Opinion by
This suit was brought by the indorsee against the maker of a promissory note. At the trial the jury found in favor of the plaintiff and returned, a verdict for the principal and interest of the note. On motion, judgment non obstante veredicto for defendant was entered upon the whole record. The errors complained of in the first, second and third assignments, relate to the entry of judgment n. o. v. and to the refusal of the trial judge to give binding instructions; the other assignments complain of errors in the admission of certain testimony. The defendant died while the suit was pending and her executor was substituted as party defendant. Thus the record stood at the time of trial. Death having sealed the lips of the maker of the note, defendant in the suit, the indorsee, the party suing, could not be called as a
We find nothing in this record that discloses a good defense, even against the original payee of the note, and therefore none as against the indorsee even if he acquired title after maturity. If it had been shown that the note was signed by an accommodation maker, it would have been a good defense against the original payee, or the holder for value after maturity, but such a defense depends upon the facts, and none were proved.
The jury found in favor of the appellant upon the merits of the case when it was submitted without binding instructions, to which, as we view it, he was clearly
The first, second and third assignments of error are sustained.
Judgment reversed and is here entered for plaintiff on verdict.
Reference
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- Reichner v. Trust Company of North America
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- Promissory notes — Suit by indorsee against maker — Evidence. In an action of assumpsit the plaintiff declared as indorsee on a promissory note executed and delivered to the payee by defendant’s testatrix. At the trial plaintiff offered the note with the endorsement in blank of the payee on the back. The note also bore a ^special endorsement of the payee to the order of the plaintiff dated several months after maturity. This special endorsement was not offered in evidence at the trial by either party. The defendant proved that the note had been discounted by a bank on the day of its execution, and that some one had paid the full amount of the note to the bank at maturity. It was also shown that the proceeds of the note had been placed to the credit of the payee on the books of the bank. In rebuttal plaintiff offered the affidavit of defense to show on admission that the payee of the note had it discounted at the bank, and at maturity had paid the note in full. There was no evidence to show that the note had been signed by an accommodation maker. Held, that a verdict and judgment for plaintiff should be sustained, as plaintiff was entitled to binding instructions.