Federal Reserve Bank v. Ocean City

Third Circuit

Federal Reserve Bank v. Ocean City

91 F.2d 635, 1937 U.S. App. LEXIS 4315

CourtCourt of Appeals for the Third Circuit

DecidedJuly 22, 1937

DocketNo. 6368

StatusPublished

Cited by1 cases

This text of 91 F.2d 635 (Federal Reserve Bank v. Ocean City) is published on Counsel Stack Legal Research, covering Court of Appeals for the Third Circuit primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

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Federal Reserve Bank v. Ocean City, 91 F.2d 635, 1937 U.S. App. LEXIS 4315 (3d Cir. 1937).

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Opinion

PER CURIAM.

This is an appeal from a judgment of the District Court for the District of New Jersey. The case was previously before us in Federal Reserve Bank v. Ocean City, N. J., 84 F.(2d) 657. Certiorari was denied by the Supreme Court in 299 U.S. 584, 57 S.Ct. 109, 81 L.Ed.-.

The facts are set out in our original opinion. We there ruled that the note in suit was a negotiable instrument and that the facts did not support the defense that the transaction was a loan of the credit of the city of Ocean City. We reversed and sent the case back for a new trial.

On the second trial the Federal Reserve Bank moved for a directed verdict in its favor. This was refused. An examination of the issues and evidence presented upon the second trial discloses that they did not vary from those presented upon the first trial. Under such circumstances, the law as set forth in our first opinion is the law of the case and required that the trial court direct a verdict for the Federal Reserve Bank. Columbia Chemical Co. v. Duff (C.C.A.) 184 F. 876; Finley v. United Mine Workers (C.C.A.) 300 F. 972, modified on another point in Coronado Coal Co. v. United Mine Workers, 268 U.S. 295, 45 S.Ct. 551, 69 L.Ed. 963.

The judgment of the court below is reversed.

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PER CURIAM.

This is an appeal from a judgment of the District Court for the District of New Jersey. The case was previously before us in Federal Reserve Bank v. Ocean City, N. J., 84 F.(2d) 657. Certiorari was denied by the Supreme Court in 299 U.S. 584, 57 S.Ct. 109, 81 L.Ed.-.

The facts are set out in our original opinion. We there ruled that the note in suit was a negotiable instrument and that the facts did not support the defense that the transaction was a loan of the credit of the city of Ocean City. We reversed and sent the case back for a new trial.

On the second trial the Federal Reserve Bank moved for a directed verdict in its favor. This was refused. An examination of the issues and evidence presented upon the second trial discloses that they did not vary from those presented upon the first trial. Under such circumstances, the law as set forth in our first opinion is the law of the case and required that the trial court direct a verdict for the Federal Reserve Bank. Columbia Chemical Co. v. Duff (C.C.A.) 184 F. 876; Finley v. United Mine Workers (C.C.A.) 300 F. 972, modified on another point in Coronado Coal Co. v. United Mine Workers, 268 U.S. 295, 45 S.Ct. 551, 69 L.Ed. 963.

The judgment of the court below is reversed.

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91 F.2d 635, 1937 U.S. App. LEXIS 4315, Counsel Stack Legal Research, https://law.counselstack.com/opinion/federal-reserve-bank-v-ocean-city-ca3-1937.

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