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Contracts Keyed to Barnett
Newman & Snell’s State Bank v. Hunter
Citation:Supreme Court of Michigan, 243 Mich. 331, 220 N.W. 665 (1928)
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- Procedural Posture & History: Shares the case history with how lower courts have ruled on the matter.
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- Facts: What are the factual circumstances that gave rise to the civil or criminal case? What is the relationship of the Parties that are involved in the case. Review the Facts of this case here:
Lee Hunter died intestate on January 25, 1926. His estate was insufficient to pay his funeral expenses and the widow’s allowance. At the time of his death Bank held Hunter’s note for $3,700, with 50 shares of the capital stock of the Hunter Company as collateral. The company was still doing business when the note was given; afterwards it was placed in the hands of a receiver and the assets were insufficient to pay its debts. On March 1, 1926 Widow gave Bank a note in return for her husband’s note along with interest. Bank sued Widow to collect the balance owed on her note. Widow claimed there was insufficient consideration.
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