59 N.J.L. 225 | N.J. | 1896
The opinion of the court was delivered by
The case upon which the court below directed a verdict for the plaintiff was this: Graham, the defendant in the suit, had made a note, payable to and endorsed by G. W. Murray, which was discounted by the plaintiff. At the time the note was-thus discounted, Murray, the payee of the note, was president of the plaintiff corporation, and, together with its cashier, constituted the discount committee. The defence was that Murray knew that the note was given to raise funds for an illegal purpose and that his knowledge was imputable to the bank. The law upon the subject of imputable knowledge is laid down by this court in the case
This disposes of the only error assigned. The judgment will be affirmed.
For affirmance—The Chancellor, Chief Justice, Depue, Garrison, Gummere, Lippincott, Ludlow, Magie, Yan Syckel, jBarkalow, Bogert, Dayton, Hendrickson, Nixon. 14.
For reversal—None.