Shuey v. Holmes

Citations

• 20 Wash. 13
• 54 P. 540
• 1898 Wash. LEXIS 459

Syllabus

<p>RECEIVERS — ACTION BY — DEFENSES — BILLS AND NOTES—ACCOMMODATION PAPER—LIABILITY OP COMMUNITY.</p> <p>An action by tbe receiver of a bank will, in tbe absence of any allegation of the insolvency or indebtedness of tbe bank, be treated as though it was brought directly by tbe bank, as under Code Proc. § 326 (Bal. Code, § 5456), a receiver may be appointed for other purposes than tbe winding up of an insolvent concern; consequently, any defense good against the bank would be good against tbe receiver.</p> <p>One who executes an accommodation note to a bank for tbe par value of shares of stock of tbe bank, which bad come into tbe possession of tbe bank and could not be legally held by it, is not liable on such note to tbe bank.</p> <p>A note executed by a husband, and delivered solely as an accommodation to tbe bank to which it is made payable, is not valid as against tbe community, where it was not executed in behalf of tbe community, and neither husband nor wife bad any interest in tbe bank at tbe time.</p>