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First National Bank v. J. L. Mott Iron Works, 258 U.S. 240 (1922)
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General SummaryThis case is from a collection containing the full text of over 16,000 Supreme Court cases from 1793 to the present. The body of Supreme Court decisions are, effectively, the final interpretation of the Constitution. Only an amendment to the Constitution can permanently overturn an interpretation and this has happened only four times in American history.
First National Bank v. J. L. Mott Iron Works, 258 U.S. 240 (1922)
First National Bank v. J. L. Mott Iron Works No. 159 Argued March 10, 1922 Decided March 20, 1922 258 U.S. 240
CERTIORARI TO THE SUPREME COURT
OF THE STATE OF SOUTH CAROLINA
Syllabus
A national bank, having advanced money to one who had contracted to supply labor and material for a building, on the security of his assignment of the contract and of payments to be made under it, guaranteed payment of goods afterward sold to the contractor on the faith of the guaranty and used in the work. Held: (a) that whether or not the guaranty was valid as an incident of banking, the bank was liable to the seller, up to its amount, for moneys subsequently arising under the assigned contract which were paid to it or, with its consent, to the contractor, and (b) that, the case having been tried on its merits, the distinction between a recovery on the guaranty and a recovery of the amount so directly or indirectly received on account of it was purely formal. P. 241.
Affirmed.
Certiorari to a judgment affirming a recovery obtained by the respondent on a guaranty made by the petitioner.
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Chicago: U.S. Supreme Court, "Syllabus," First National Bank v. J. L. Mott Iron Works, 258 U.S. 240 (1922) in 258 U.S. 240 Original Sources, accessed November 25, 2024, http://originalsources.com/Document.aspx?DocID=Q4VHI8TG4XXTCPL.
MLA: U.S. Supreme Court. "Syllabus." First National Bank v. J. L. Mott Iron Works, 258 U.S. 240 (1922), in 258 U.S. 240, Original Sources. 25 Nov. 2024. http://originalsources.com/Document.aspx?DocID=Q4VHI8TG4XXTCPL.
Harvard: U.S. Supreme Court, 'Syllabus' in First National Bank v. J. L. Mott Iron Works, 258 U.S. 240 (1922). cited in 1922, 258 U.S. 240. Original Sources, retrieved 25 November 2024, from http://originalsources.com/Document.aspx?DocID=Q4VHI8TG4XXTCPL.
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