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Winnemucca State Bank & Trust Co. v. Corbeil

January 1919

WINNEMUCCA STATE BANK AND TRUST COMPANY (A CORPORATION), APPELLANT, V. J. D. CORBEIL, RESPONDENT.


Appeal from Sixth Judicial District Court, Humboldt County; Edward A. Ducker, Judge.

Warren & Hawkins, for Appellant.

L. G. Campbell, for Respondent.

By the Court, Sanders, J.:

This is an action on a promissory note.

The plaintiff, a domestic banking corporation, alleges in its complaint that the Interstate Life Insurance Company executed and delivered to the plaintiff its promissory note for $1,000, and “delivered and left with the plaintiff, as collateral security” for its payment, that certain promissory note of the defendant in words and figures as follows, to wit: “$800.00. Winnemucca, Nevada, Nov. 5th, 1915.

“Twelve months after date, without grace, I promise to pay to the order of Interstate Life Ins. Co. at Winnemucca, Nevada, Eight hundred Dollars, in Gold Coin of

[42 Nev. 378, Page 381]

the United States of America, of the present standard value, with interest thereon, in like Gold Coin, at the rate of 6 per cent per annum from date until paid for value received. Interest to be paid semiannually and if not so paid, when whole sum of both Principal and Interest to become immediately due and collectible, at the option of the holder of this note. And in case suit or action is instituted to collect this note, or any portion thereof I promise and agree to pay, in addition to the costs and disbursements provided by statute, such additional sum, in like Gold Coin, as the Court may adjudge reasonable, for Attorney's fees to be allowed in said suit or action.

“Interest payable from issuance of license to write policies.

“Due Nov. 5th, 1916.

“Witness: H. Howard Dunbar. J. D. Corbeil.”

That the said promissory note bears on the back thereof 20 cents in canceled United States revenue stamps, and is indorsed on the back thereof as follows: “Interstate Life Insurance Co. A. W. Stowe, Secy. A. G. Crane, President.”

It is further alleged that said note was “so indorsed and delivered” as security for the payment of the covenants of the said Interstate Life Insurance Company, and to further secure the repayment of the sum evidenced by its promissory note; that both notes are due and unpaid, and that the plaintiff is the legal owner of the defendant's said note, as well as the holder thereof; and demanded judgment against the defendant for the amount of the note so pledged.

The district court sustained a general demurrer to the complaint, and ordered the action dismissed, and rendered judgment in favor of the defendant and against the ...


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