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Newman & Snell’s State Bank v. Hunter
Michigan Supreme Court
220 N.W. 665 (1928)
Facts
Hunter (defendant) is the widow of Mr. Hunter, who owed money to Newman & Snell’s State Bank (the Bank) (plaintiff) at the time of his death. This debt was evidenced by a note, which was secured by shares of stock in Mr. Hunter’s company, Hunter Company, which was insolvent. Mr. Hunter’s assets were insufficient to pay this debt, his widow’s allowance, or even his funeral expenses. Hunter gave the Bank a note promising to pay for her husband’s debt, for which the Bank surrendered the husband’s note. The Bank sued Hunter to collect on the note.
Rule of Law
Issue
Holding and Reasoning (Fellows, J.)
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