143 Ga. 522 | Ga. | 1915
The Carrollton Bank obtained an attachment against John N. Hayes, on the ground that Hayes was disposing of his property subject to the payment of his debts, in order to avoid the payment thereof, or was threatening or preparing to do so. A petition in attachment was also filed by the bank against Hayes, alleging that the defendant was due the plaintiff the sum of $500, besides interest, on a certain promissory note executed by Hayes to the Paul C. Jack Company, and due on the 1st day of November, 1910. It was alleged that the note was transferred in writing to the Carrollton Bank on or about March 1, 1910, for value, by the payee of the note. The defendant filed an answer averring that, the .note sued on was procured by fraud, in that Allen, Bedding-field and Company, who were agents and employees of the Paul C. Jack Company, induced the defendant to sign the note by false representations as to the value of the stock and what it would bring in the market, and guaranteed to the, defendant that if he would sign the note they would sell the stock for double the amount of the note before it became due, all of which they failed to do, knowing at the time that the stock was worthless and of no value whatever. It was further alleged, that the Carrollton Bank had full knowledge of the fraudulent means used in procuring the note, and knew that the note was without consideration and procured by fraud; that the president of the bank, J. T. Bradley, was one of the directors in the Paul C. Jack Company, and knew all about the inside management of that company, and knew that it was insolvent, and knew of the fraudulent means employed in procuring the note; that.the cashier of the Carrollton Bank was secretary of the above-named company, and likewise knew, at the time the bank secured the note sued on, that it was without consideration, and was procured by fraud. At the conclusion of the evidence the presiding judge directed a verdict in favor of the plaintiff for the sum of $500 principal, and $144.44 interest. A motion for new trial was overruled, and the defendant excepted.
Judgment affirmed.