Moyse Real Estate Co. v. First National Bank

Citations

• 110 Miss. 620
• 70 So. 821

Syllabus

<p>1. Biuls and Notes. Corporations. Accommodation notes. Innocent purchaser. Liability. President executing notes. Authority. Presumption.</p> <p>Where a corporation is empowered by its charter to execute prom'issory notes generally, but not to make accommodation paper, it is liable on an accommodation note executed by it to one purchasing such notes in due course of business for value, without notice.</p> <p>2.- Corporations. President executing notes. Authority. Presumption.</p> <p>In a suit by a purchaser for value without notice of an accommodation note of a corporation, proof that the president of the corporation executed the note was prima facie evidence of his authority to bind the corporation in that manner.</p>