BUCHANAN STATE BANK v. DE GROOT

No. 5537.

39 F.2d 397 (1930)

BUCHANAN STATE BANK v. DE GROOT.

Circuit Court of Appeals, Sixth Circuit.

April 8, 1930.


Attorney(s) appearing for the Case

C. H. Kavanagh and Stuart B. White, both of Niles, Mich. (Stuart B. White, of Niles, Mich., on the brief), for appellant.

Francis L. Williams, of Grand Rapids, Mich. (on the brief), for appellee.

Before HICKS and HICKENLOOPER, Circuit Judges, and WEST, District Judge.


WEST, District Judge.

J. R. Ross, the bankrupt, was indebted to the appellant, Buchanan State Bank, on three notes amounting to $1,550. Of these, one for $750 was payable to and indorsed by one Miller, who discounted it with the bank of which he was a director. On April 9, 1928, Ross gave the bank a new note for $1,600, in consideration of which it surrendered his old notes and paid him $24 in cash, the difference between the new and old obligations with accrued interest...

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