Roess Lumber Co. v. State Exchange Bank

Citations

• 68 Fla. 324

Syllabus

<p>1. One who gives a note in renewal of another note, with knowledge at the time of a partial failure of the consideration for • the original note, or false representations by the payee, etc., .waives such defense, and cannot set it up to defeat a recoyery on' the renewal note. And. where one giving such renewal note either had knowledge of such facts and circumstances, or by the exercise of ordinary diligence, could have discovered them and ascertained his rights, it became his duty to make such inquiry and investigation before executing the renewal note, and if he fails so to do he is as much bound as if he had actual knowledge thereof.</p> <p>2. The established rule is that knowledge acquired by the officers or agents of a corporation, while not acting for the corporation, but while acting for themselves is not imputable to the corporation.</p>