Johnson v. Hay

Citations

• 107 Kan. 148
• 190 P. 613
• 1920 Kan. LEXIS 33

Syllabus

<p>SYLLABUS BY THE COURT.</p> <p>1. Promissory Note — Part of Assets of Bank — Former Stockholders Had No Interest Therein. Among the assets of a state bank was a promissory note that was uncollectible, and it was charged to the profit and loss account, under an agreement among the stockholders to consider the note as a dividend, and if it were ever collected, the proceeds should belong to them. Subsequently they sold their stock, and long afterwards, claiming to own the note, brought suit thereon against the maker. Their evidence showed that no dividend was, in fact, declared, and that none could have been lawfully declared at the time of the transaction under which they claim, and also that they never paid anything to the bank to take up the loss occasioned by the note. Held, that the note was part of the assets of the bank, and that the former stockholders had no interest therein.</p> <p>Issues — Between Codefendants — Codefendant May Have Attachment Against Property of His Codefendant. Where one who is joined as a defendant files a cross petition against his codefendant, his relation to the latter is that of a plaintiff, and he is entitled, on proper showing, to have an attachment issued against the property of his codefendant.</p> <p>3. Trial — No Error in Record. Various complaints of error raised by the defendant (maker of the note), held to be without merit.</p>