Northrup National Bank v. Yates Center National Bank

Citations

• 98 Kan. 563
• 159 P. 403
• 1916 Kan. LEXIS 127

Syllabus

<p>SYLLABUS BY THE COURT.</p> <p>1. Appeal and Error — Judgment — Ambiguous Oral Contract — Evidence. A judgment rendered on an oral contract between banks concerning the transfer of notes and credit given will not be reversed when based on a general finding, where the evidence is not clear as to what the oral contract was, but shows that the contract was afterward confirmed by letters which referred to the oral contract but did not state the complete terms thereof, and the contract is partly explained by the subsequent conduct of the parties.</p> <p>2. Evidence — Competency—Notes—Endorsement—Purpose. Where notes are transferred from one bank to another by endorsement, evidence to show the contract betwen the banks as to the purpose for which the notes were transferred is competent.</p> <p>3. Pledges — Notes as Collateral Security — Delay in Returning — Laches. Where notes are endorsed by one bank to another as collateral security for a credit obtained under an agreement that any of the notes may be returned if found unsatisfactory, a delay of two months and twenty days in returning notes found unsatisfactory can not be said to be unreasonable as a matter of law, although the bank transferring the notes and obtaining the credit has in the meantime been placed in the hands of a receiver.</p>