13 S.D. 1 | S.D. | 1900
This action is instituted by the Ciuizens’ National Bank to recover of the defendant the sutn of $316, claimed to be due upon warehouse receipts assigned to the plaintiff. Verdict and judgment for the plaintiff, and the defendant appeals.
The defendant, in its answer, interposed four defenses: (1) That the plaintiff was not a corporation; (2) that the warehouse receipts were fraudulently issued by an agent of the defendant, and that, consequently, the defendant was not liable thereon; (3) that no proper demand for the wheat represented by the warehouse receipts is shown by the evidence to have been made, nor was there any tender of storage charges; (4) that the respondent is simply a pledgee of the warehouse receipts, and cannot, therefore, maintain this action.
Appellant contends that the respondent wnolly failed to prove'its corporate existence, as alleged in the complaint here
The second objection — that the words “of Watertown” are not contained in the name of the bank as given in the com
The second point made — that the warehouse receipts which formed the basis of plaintiff’s claim were fraudulently issued by one of its agents, and were, therefore, not binding upon the defendant — has been fully considered in the case of Fletcher v. Elevator Co. 12 S. D. 648 82 N. W. 184, in which it was held that such warehouse receipts were valid, and binding upon the corporation, and need not be further considered.
It is further contended on the part of the appellant that no proper demand for the wheat represented by the warehouse receipts is shown by the evidence, and that there was no proof of any tender of storage charges. The warehouse at which
And, lastly, it is contended by the appellant that the respondent, though indorsee of the warehouse receipts, was in fact only a pledgee of the same, and cannot, therefore, maintain this action. This contention is not tenable. Section 9, Chap. 99, Laws 1890, provides: “On the return of any warehouse receipt properly indorsed, * * * such grain, or an equal quantity of the same grade, shall be immediately delivered to the holder of such receipt as rapidly as due diligence, care and'prudence will justify.” Section 17 of the same chapter provides: “No person, association, firm or corporation, doing a grain warehouse or grain elevator business in this state, having issued a receipt for the storage of grain,