Eastern Bank & Trust Co. v. Shaw

Supreme Court of North Carolina

Eastern Bank & Trust Co. v. Shaw

173 S.E. 901, 206 N.C. 367, 1934 N.C. LEXIS 186

DecidedApril 11, 1934

StatusPublished

This text of 173 S.E. 901 (Eastern Bank & Trust Co. v. Shaw) is published on Counsel Stack Legal Research, covering Supreme Court of North Carolina primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Eastern Bank & Trust Co. v. Shaw, 173 S.E. 901, 206 N.C. 367, 1934 N.C. LEXIS 186 (N.C. 1934).

Pincite

Opinion

CoNNOR, J.

Tbe First National Bank of New Bern was tbe bolder in due course of tbe note sued on in tbis action on 9 October, 1929. At said date, tbe said National Bank endorsed and assigned said note, for value, to tbe plaintiff. Tbe note was due and payable on 25 October, 1929.

Tbe First National Bank of New Bern closed its doors and ceased to do business on 25 October, 1929, because of its insolvency. At said date, tbe defendant, W. R. Sbaw, bad on deposit witb tbe said First National Bank of New Bern, a sum more tban sufficient for tbe payment of said note. There was no evidence at tbe trial of tbis action tending’ to sbow tbat tbe First National Bank of New Bern was insolvent on 9 October, 1929, or tbat it contemplated insolvency at said date. For tbat reason, tbe contention of tbe defendants tbat tbe transfer and assignment by said National Bank of tbe note sued on was void, and tbat tbe plaintiff did not become tbe bolder in due course as tbe result of said transfer and assignment, cannot be sustained.

There was no error in tbe instruction of tbe court to tbe jury to tbe effect that if tbe jury should find tbe facts to be as all tbe evidence tended to sbow, they should answer tbe third issue “Yes.” Tbe judgment is affirmed.

No error.

Free access — add to your briefcase to read the full text and ask questions with AI

CoNNOR, J.

Tbe First National Bank of New Bern was tbe bolder in due course of tbe note sued on in tbis action on 9 October, 1929. At said date, tbe said National Bank endorsed and assigned said note, for value, to tbe plaintiff. Tbe note was due and payable on 25 October, 1929.

Tbe First National Bank of New Bern closed its doors and ceased to do business on 25 October, 1929, because of its insolvency. At said date, tbe defendant, W. R. Sbaw, bad on deposit witb tbe said First National Bank of New Bern, a sum more tban sufficient for tbe payment of said note. There was no evidence at tbe trial of tbis action tending’ to sbow tbat tbe First National Bank of New Bern was insolvent on 9 October, 1929, or tbat it contemplated insolvency at said date. For tbat reason, tbe contention of tbe defendants tbat tbe transfer and assignment by said National Bank of tbe note sued on was void, and tbat tbe plaintiff did not become tbe bolder in due course as tbe result of said transfer and assignment, cannot be sustained.

There was no error in tbe instruction of tbe court to tbe jury to tbe effect that if tbe jury should find tbe facts to be as all tbe evidence tended to sbow, they should answer tbe third issue “Yes.” Tbe judgment is affirmed.

No error.

Cite This Page — Counsel Stack

Bluebook (online)

173 S.E. 901, 206 N.C. 367, 1934 N.C. LEXIS 186, Counsel Stack Legal Research, https://law.counselstack.com/opinion/eastern-bank-trust-co-v-shaw-nc-1934.