Gypsum Valley National Bank v. Dillenbeck

Citations

• 111 Kan. 98
• 205 P. 1022
• 1922 Kan. LEXIS 183

Syllabus

<p>SYLLABUS BY THE COURT.</p> <p>1. Negotiable Instruments — Certificate of Deposit. A certificate of deposit issued by a bank payable to the order of the depositor in current funds on the return of the certificate properly indorsed six months after date with interest at 4 per cent per annum is a negotiable instrument.</p> <p>2. Same — Innocent Holder of Certificate of Deposit. The'mere fact that such a certificate was issued by a bank in payment for a promissory note transferred to it before the note was due, which was subject to defenses for fraud ' in its inception, does not warrant the inference that the bank took the note with actual knowledge of infirmity and in bad faith, or that it was not a holder in due course.</p>